Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,382,400.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) CEO John E. Kao sold 90,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $15.36, for a total value of $1,382,400.00. Following the transaction, the chief executive officer now owns 2,093,100 shares of the company's stock, valued at approximately $32,150,016. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Alignment Healthcare Trading Up 1.9 %

Shares of ALHC stock traded up $0.30 during trading hours on Monday, reaching $16.09. 2,691,822 shares of the stock traded hands, compared to its average volume of 1,400,843. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $3.09 billion, a PE ratio of -20.90 and a beta of 1.49. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $16.30. The business has a fifty day moving average price of $14.38 and a 200 day moving average price of $12.46.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Alignment Healthcare by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company's stock worth $641,000 after acquiring an additional 2,154 shares during the period. Rhumbline Advisers raised its holdings in Alignment Healthcare by 2.2% during the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock valued at $1,527,000 after buying an additional 2,937 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Alignment Healthcare by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock worth $690,000 after acquiring an additional 3,256 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Alignment Healthcare by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company's stock valued at $1,344,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock valued at $388,000 after purchasing an additional 4,497 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Friday, February 28th. Piper Sandler upped their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 6th. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.