Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $465,066.15 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 27,535 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total value of $465,066.15. Following the transaction, the chief executive officer now owns 4,991,717 shares of the company’s stock, valued at $84,310,100.13. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock traded up $0.45 during trading hours on Wednesday, reaching $17.19. 2,791,742 shares of the stock traded hands, compared to its average volume of 1,412,390. The company has a 50 day moving average price of $14.68 and a 200 day moving average price of $12.59. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -22.32 and a beta of 1.49. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $17.41. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at about $55,000. RiverPark Advisors LLC purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at about $106,000. Tower Research Capital LLC TRC lifted its position in shares of 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 in the last quarter. Ballentine Partners LLC purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at about $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Alignment Healthcare during the 3rd quarter valued at about $131,000. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALHC. JPMorgan Chase & Co. raised their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Stifel Nicolaus lifted their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Barclays lifted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.83.

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.