Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Andreas P. Wagner Sells 7,632 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 7,632 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $125,164.80. Following the sale, the insider now owns 223,474 shares in the company, valued at approximately $3,664,973.60. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $17.19 on Thursday. The firm has a market capitalization of $3.30 billion, a P/E ratio of -22.32 and a beta of 1.49. 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 has a fifty day moving average price of $14.68 and a 200 day moving average price of $12.59. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $17.38.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALHC. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Stifel Nicolaus boosted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Piper Sandler boosted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, 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. 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 given a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. Wellington Management Group LLP increased its stake 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 acquiring an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Alignment Healthcare by 54.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Millennium Management LLC increased its stake in Alignment Healthcare by 588.3% during the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after acquiring an additional 2,896,311 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Alignment Healthcare during the fourth quarter worth about $20,087,000. Finally, Broad Bay Capital Management LP acquired a new stake in Alignment Healthcare during the fourth quarter worth about $18,804,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.