Robert L. Scavo Sells 2,864 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Robert L. Scavo sold 2,864 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the sale, the insider now directly owns 702,953 shares in the company, valued at $12,575,829.17. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alignment Healthcare Stock Up 0.3 %

ALHC traded up $0.07 during trading on Tuesday, hitting $18.69. 1,833,629 shares of the company's stock were exchanged, compared to its average volume of 1,501,379. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $18.92. The stock has a market cap of $3.58 billion, a P/E ratio of -24.32 and a beta of 1.49. The business's 50 day moving average is $15.36 and its two-hundred day moving average is $13.06. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. Mackenzie Financial Corp boosted its position in Alignment Healthcare by 149.8% during the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company's stock worth $958,000 after purchasing an additional 51,084 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alignment Healthcare by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company's stock worth $2,961,000 after purchasing an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $189,000. Finally, Squarepoint Ops LLC boosted its holdings in Alignment Healthcare by 414.6% in the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company's stock worth $2,231,000 after buying an additional 159,774 shares during the period. Institutional investors and hedge funds own 86.19% of the company's stock.

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Analyst Ratings Changes

Several brokerages recently commented on ALHC. Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a research note 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 report on Thursday, March 6th. Piper Sandler increased their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Bank of America boosted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare has an average rating of "Moderate Buy" and an average target price 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.