Alignment Healthcare (NASDAQ:ALHC) EVP Sells $575,000.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) EVP Joseph Konowiecki sold 25,000 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $23.00, for a total value of $575,000.00. Following the completion of the transaction, the executive vice president owned 1,128,816 shares of the company’s stock, valued at $25,962,768. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC opened at $23.21 on Monday. The stock’s 50-day moving average is $18.76 and its 200 day moving average is $19.58. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 257.84, a P/E/G ratio of 3.13 and a beta of 1.14. Alignment Healthcare, Inc. has a 1-year low of $11.63 and a 1-year high of $23.87. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.Alignment Healthcare’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, sell-side analysts anticipate that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently modified their holdings of ALHC. Royal Bank of Canada increased its holdings in Alignment Healthcare by 92.6% during the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock valued at $1,720,000 after purchasing an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alignment Healthcare by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock worth $1,109,000 after buying an additional 2,594 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Alignment Healthcare by 79.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock worth $18,112,000 after buying an additional 429,703 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Alignment Healthcare in the 1st quarter worth approximately $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alignment Healthcare by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock valued at $5,729,000 after buying an additional 44,452 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALHC. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. UBS Group raised their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Wolfe Research began coverage on Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.