Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Christopher J. Joyce Sells 25,000 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 25,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the insider now owns 415,022 shares in the company, valued at $7,665,456.34. This represents a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alignment Healthcare Trading Down 1.3 %

Shares of ALHC stock opened at $17.85 on Thursday. The firm has a fifty day moving average of $15.50 and a 200-day moving average of $13.14. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -23.18 and a beta of 1.49. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $18.92. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Alignment Healthcare during the fourth quarter valued at approximately $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $106,000. Tower Research Capital LLC TRC boosted its stake in Alignment Healthcare by 146.7% in 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 in the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare in the fourth quarter valued at $121,000. Finally, Aigen Investment Management LP bought a new stake in Alignment Healthcare in the fourth quarter valued at $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Piper Sandler upped their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.