Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $389,500.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Christopher J. Joyce sold 25,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $389,500.00. Following the sale, the insider now directly owns 397,845 shares in the company, valued at $6,198,425.10. This represents a 5.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alignment Healthcare Stock Performance

NASDAQ ALHC traded up $0.13 on Monday, reaching $15.02. The stock had a trading volume of 2,232,665 shares, compared to its average volume of 2,080,941. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market cap of $2.88 billion, a P/E ratio of -19.51 and a beta of 1.49. The business's 50-day moving average price is $13.97 and its 200 day moving average price is $12.23. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $16.25.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALHC. 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 report on Friday, February 28th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Bank of America boosted 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. Stephens restated an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.83.

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Institutional Trading of Alignment Healthcare

A number of large investors have recently bought and sold shares of the business. Verition Fund Management LLC increased 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 purchasing an additional 55,771 shares during the period. JPMorgan Chase & Co. increased its position in 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 acquiring an additional 205,705 shares during the period. Principal Financial Group Inc. raised its stake in Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock valued at $2,294,000 after acquiring an additional 180,522 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company's stock worth $1,524,000 after acquiring an additional 73,402 shares during the period. Finally, Barclays PLC grew its stake in shares of Alignment Healthcare by 144.1% in the 3rd 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.