Alignment Healthcare (NASDAQ:ALHC) Stock: Insider Joseph Konowiecki Sells 4,930 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) EVP Joseph Konowiecki sold 4,930 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $7.20, for a total value of $35,496.00. Following the sale, the executive vice president owned 1,075,375 shares in the company, valued at approximately $7,742,700. The trade was a 0.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Trading Down 2.5%

NASDAQ ALHC traded down $0.19 during trading hours on Thursday, hitting $7.50. 3,664,841 shares of the company’s stock were exchanged, compared to its average volume of 5,622,082. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 57.70 and a beta of 1.07. The stock has a 50-day simple moving average of $8.91 and a 200 day simple moving average of $16.22. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.17. Alignment Healthcare, Inc. has a 1-year low of $6.01 and a 1-year high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a return on equity of 12.46% and a net margin of 0.59%. The company’s revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share. On average, equities analysts forecast that Alignment Healthcare, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new position in Alignment Healthcare in the second quarter worth approximately $184,799,000. Danica Pension Livsforsikringsaktieselskab acquired a new stake in Alignment Healthcare in the second quarter valued at approximately $87,794,000. Bank of New York Mellon Corp bought a new stake in shares of Alignment Healthcare during the second quarter valued at approximately $87,077,000. Bank of America Corp DE increased its holdings in shares of Alignment Healthcare by 156.5% during the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after acquiring an additional 1,961,778 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Alignment Healthcare by 276.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,458,400 shares of the company’s stock valued at $43,882,000 after acquiring an additional 1,805,752 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALHC. William Blair lowered shares of Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. cut their target price on shares of Alignment Healthcare from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Piper Sandler restated an “overweight” rating and issued a $15.00 price target on shares of Alignment Healthcare in a report on Friday, October 30th. KeyCorp downgraded shares of Alignment Healthcare from an “overweight” rating to a “sector weight” rating in a research note on Friday, October 30th. Finally, Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.00.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc. is a technology-enabled healthcare company focused primarily on serving older adults through Medicare Advantage plans. Its health plans, offered under the Alignment Health Plan name, combine insurance coverage with care coordination and support intended to address members’ medical and everyday health needs. The company uses a care model that includes personalized care teams, member support and technology to help coordinate services across providers. Its Medicare Advantage offerings include plan options such as HMO and PPO products, with availability and benefits varying by location.