Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $8,614,692.89 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) CEO John E. Kao sold 554,713 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $8,614,692.89. Following the completion of the sale, the chief executive officer now directly owns 4,733,664 shares of the company's stock, valued at $73,513,801.92. The trade was a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC traded up $0.13 on Monday, hitting $15.02. 2,232,665 shares of the company were exchanged, compared to its average volume of 2,080,941. The company's 50 day moving average price is $13.97 and its two-hundred day moving average price is $12.23. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $16.25. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -19.51 and a beta of 1.49.

Hedge Funds Weigh In On Alignment Healthcare

Several large investors have recently made changes to their positions in ALHC. R Squared Ltd bought a new stake in shares of Alignment Healthcare in the fourth quarter worth about $55,000. RiverPark Advisors LLC acquired a new position in Alignment Healthcare during the fourth quarter worth $106,000. Tower Research Capital LLC TRC lifted its stake in Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after purchasing an additional 6,286 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare during the 3rd quarter worth about $131,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

ALHC has been the subject of several analyst reports. Stephens reaffirmed an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. Barclays increased their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. Stifel Nicolaus increased their target price on Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Bank of America upped their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.83.

About Alignment Healthcare

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.