John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $13.42, for a total transaction of $1,207,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,453,100 shares of the company’s stock, valued at approximately $32,920,602. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alignment Healthcare Stock Down 2.9 %

Alignment Healthcare stock traded down $0.38 during midday trading on Wednesday, reaching $12.78. The company’s stock had a trading volume of 934,105 shares, compared to its average volume of 1,045,498. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25. 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’s 50-day simple moving average is $11.43 and its 200-day simple moving average is $9.26.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. During the same quarter last year, the company posted ($0.19) earnings per share. The business’s quarterly revenue was up 51.6% on a year-over-year basis. As a group, equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new position in Alignment Healthcare in the 1st quarter worth approximately $918,000. Vanguard Group Inc. increased its stake in shares of Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after acquiring an additional 93,262 shares during the period. Deerfield Management Company L.P. Series C increased its stake in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after purchasing an additional 82,559 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its position in Alignment Healthcare by 6.4% during the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after purchasing an additional 185,854 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays boosted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. UBS Group raised their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. KeyCorp began coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Robert W. Baird upped their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler reissued an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.33.

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.