Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) CEO John E. Kao sold 27,535 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total transaction of $465,066.15. Following the completion of the sale, the chief executive officer now owns 4,991,717 shares in the company, valued at $84,310,100.13. This represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Alignment Healthcare Price Performance
Shares of NASDAQ:ALHC traded up $0.43 on Friday, reaching $17.61. The company's stock had a trading volume of 3,358,496 shares, compared to its average volume of 1,428,436. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $17.76. The company has a market cap of $3.38 billion, a P/E ratio of -22.87 and a beta of 1.49. The company has a 50-day simple moving average of $14.90 and a 200 day simple moving average of $12.73. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.
Hedge Funds Weigh In On Alignment Healthcare
A number of institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Alignment Healthcare by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company's stock worth $641,000 after buying an additional 2,154 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock worth $1,527,000 after buying an additional 2,937 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock worth $690,000 after buying an additional 3,256 shares in the last quarter. Alliancebernstein L.P. grew 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 worth $1,344,000 after buying an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Alignment Healthcare by 15.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock worth $388,000 after buying an additional 4,497 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on ALHC. Bank of America increased their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Stephens reiterated an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Piper Sandler increased their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and an average target price of $14.83.
Check Out Our Latest Report on ALHC
About Alignment Healthcare
(
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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.
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