Alignment Healthcare (NASDAQ:ALHC) CEO John Kao Sells 298,000 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report) CEO John Kao sold 298,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $20.36, for a total value of $6,067,280.00. Following the transaction, the chief executive officer owned 1,386,766 shares in the company, valued at $28,234,555.76. The trade was a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $19.75 on Friday. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 219.44, a PEG ratio of 2.67 and a beta of 1.14. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $23.87. The stock’s 50 day moving average price is $18.53 and its two-hundred day moving average price is $19.40. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts predict that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On Alignment Healthcare

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Alignment Healthcare by 156.5% during the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after acquiring an additional 1,961,778 shares in the last quarter. Edgestream Partners L.P. bought a new position in Alignment Healthcare during the 1st quarter valued at $4,852,000. California State Teachers Retirement System lifted its stake in Alignment Healthcare by 25.4% during the 1st quarter. California State Teachers Retirement System now owns 198,200 shares of the company’s stock valued at $3,492,000 after acquiring an additional 40,135 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Alignment Healthcare by 442.2% during the 1st quarter. Quantinno Capital Management LP now owns 89,387 shares of the company’s stock valued at $1,575,000 after acquiring an additional 72,900 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in Alignment Healthcare during the 1st quarter valued at $13,937,000. 86.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday. UBS Group increased their target price on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Check Out Our Latest Analysis on ALHC

Alignment Healthcare Company Profile

(Get Free Report)

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

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Insider Buying and Selling by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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