Insider Selling: Alignment Healthcare (NASDAQ:ALHC) CEO Sells $4,136,240.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 298,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the completion of the transaction, the chief executive officer owned 790,766 shares in the company, valued at $10,975,832.08. This represents a 27.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Stock Down 4.1%

ALHC stock traded down $0.59 during midday trading on Monday, reaching $13.78. 5,918,702 shares of the company were exchanged, compared to its average volume of 4,592,385. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 72.53 and a beta of 1.10. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. Alignment Healthcare, Inc. has a 1-year low of $13.05 and a 1-year high of $25.12. The stock’s 50-day simple moving average is $19.51 and its 200 day simple moving average is $19.46.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. On average, equities analysts forecast that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in ALHC. Summit Securities Group LLC purchased a new stake in Alignment Healthcare during the 4th quarter valued at approximately $26,000. Versant Capital Management Inc increased its holdings in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares during the period. Parallel Advisors LLC increased its holdings in shares of Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Alignment Healthcare during the third quarter worth approximately $33,000. Finally, First Horizon Corp purchased a new stake in shares of Alignment Healthcare during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analyst Ratings Changes

ALHC has been the subject of several research reports. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Wolfe Research began coverage on Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. Zacks Research lowered Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Raymond James Financial downgraded Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $22.00 to $19.00 in a report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.60.

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.