Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) EVP Joseph Konowiecki sold 23,511 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $8.61, for a total transaction of $202,429.71. Following the sale, the executive vice president directly owned 1,080,305 shares of the company’s stock, valued at approximately $9,301,426.05. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Alignment Healthcare Trading Down 4.0%
Shares of NASDAQ:ALHC traded down $0.35 during mid-day trading on Friday, hitting $8.35. The company had a trading volume of 23,573,323 shares, compared to its average volume of 5,031,466. The firm has a fifty day moving average price of $15.19 and a 200 day moving average price of $17.75. The company has a market capitalization of $1.73 billion, a PE ratio of 43.95 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70. Alignment Healthcare, Inc. has a one year low of $8.27 and a one year high of $25.12.
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. Alignment Healthcare’s revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, research analysts forecast that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.
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Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Alignment Healthcare by 9.8% in the 2nd quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company’s stock worth $447,160,000 after acquiring an additional 1,681,427 shares during the last quarter. William Blair Investment Management LLC bought a new position in Alignment Healthcare in the 2nd quarter valued at about $184,799,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in Alignment Healthcare during the 2nd quarter valued at about $87,794,000. Bank of New York Mellon Corp acquired a new position in Alignment Healthcare during the 2nd quarter valued at about $87,077,000. Finally, Geode Capital Management LLC increased its holdings in Alignment Healthcare by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 3,841,703 shares of the company’s stock worth $75,884,000 after purchasing an additional 299,279 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.
About Alignment Healthcare
Alignment Healthcare, Inc is a technology-enabled healthcare company that provides Medicare Advantage health plans and care-management services for older adults. Through its Alignment Health Plan subsidiary, the company offers insurance coverage designed for Medicare-eligible members, including primary and specialty care coordination, prescription drug benefits, preventive services and access to a network of healthcare providers.
The company combines health-plan operations with proprietary technology intended to support personalized care.
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