Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sells 6,694 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) COO Sebastian Burzacchi sold 6,694 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total transaction of $109,781.60. Following the sale, the chief operating officer now directly owns 250,378 shares in the company, valued at approximately $4,106,199.20. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alignment Healthcare Stock Up 2.5 %

Shares of Alignment Healthcare stock traded up $0.43 during trading hours on Friday, hitting $17.61. The company had a trading volume of 3,358,496 shares, compared to its average volume of 1,428,436. The company's 50-day moving average is $14.90 and its two-hundred day moving average is $12.73. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $17.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $3.38 billion, a P/E ratio of -22.87 and a beta of 1.49.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its holdings in shares of Alignment Healthcare by 149.8% in the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company's stock valued at $958,000 after buying an additional 51,084 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alignment Healthcare by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company's stock valued at $2,961,000 after buying an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $189,000. Squarepoint Ops LLC boosted its holdings in shares of Alignment Healthcare by 414.6% in the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company's stock valued at $2,231,000 after buying an additional 159,774 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $258,000. Institutional investors and hedge funds own 86.19% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALHC. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. 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 research note on Friday, February 28th. Bank of America upped their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Barclays increased their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently 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.