Christopher J. Joyce Sells 25,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Christopher J. Joyce sold 25,000 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the transaction, the insider now directly owns 415,022 shares in the company, valued at $7,665,456.34. This trade represents a 5.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Alignment Healthcare Trading Down 1.6 %

Alignment Healthcare stock traded down $0.29 during mid-day trading on Monday, hitting $17.82. The stock had a trading volume of 3,427,218 shares, compared to its average volume of 1,557,349. The stock has a market capitalization of $3.42 billion, a PE ratio of -23.14 and a beta of 1.32. Alignment Healthcare, Inc. has a 12 month low of $4.62 and a 12 month high of $20.66. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $13.29.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALHC shares. Barclays upped their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Friday, February 28th. 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. Bank of America lifted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.83.

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Institutional Investors Weigh In On Alignment Healthcare

Institutional investors have recently modified their holdings of the business. Verition Fund Management LLC boosted its stake in Alignment Healthcare by 85.3% in the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company's stock valued at $1,432,000 after acquiring an additional 55,771 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock valued at $3,407,000 after purchasing an additional 205,705 shares during the period. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock worth $2,294,000 after purchasing an additional 180,522 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Alignment Healthcare by 132.2% during the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company's stock worth $1,524,000 after purchasing an additional 73,402 shares during the period. Finally, Barclays PLC increased its holdings in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company's stock valued at $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

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.