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

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares in the company, valued at approximately $12,575,829.17. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alignment Healthcare Trading Up 0.9 %

Shares of ALHC stock opened at $18.30 on Friday. The firm’s 50-day simple moving average is $15.28 and its 200-day simple moving average is $12.97. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $18.44. The firm has a market cap of $3.51 billion, a P/E ratio of -23.77 and a beta of 1.49.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ALHC shares. Stifel Nicolaus upped 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. Piper Sandler increased their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Barclays upped their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alignment Healthcare in the third quarter valued at $131,000. Intech Investment Management LLC purchased a new position in shares of Alignment Healthcare in the 3rd quarter worth about $315,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Alignment Healthcare by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after purchasing an additional 13,865 shares in the last quarter. Algert Global LLC lifted its stake in shares of Alignment Healthcare by 44.8% in the 3rd quarter. Algert Global LLC now owns 80,903 shares of the company’s stock valued at $956,000 after purchasing an additional 25,050 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.