Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi Sells 6,694 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 6,694 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 250,378 shares in the company, valued at $4,106,199.20. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Alignment Healthcare Stock Up 2.7 %

Alignment Healthcare stock opened at $17.19 on Thursday. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -22.32 and a beta of 1.49. 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 fifty-two week low of $4.46 and a fifty-two week high of $17.38. The stock’s fifty day moving average is $14.68 and its two-hundred day moving average is $12.59.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $55,000. RiverPark Advisors LLC purchased a new stake in Alignment Healthcare in the 4th quarter valued at approximately $106,000. Tower Research Capital LLC TRC grew its holdings in Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares during the last quarter. Ballentine Partners LLC purchased a new position in Alignment Healthcare during the fourth quarter worth $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare in the fourth quarter worth $129,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALHC. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Bank of America increased 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. Piper Sandler upped their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.