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 firm’s stock in a transaction on Tuesday, November 10th. The stock was 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 $7,742,700. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Trading Down 1.9%

Alignment Healthcare stock traded down $0.14 during trading on Friday, hitting $7.36. The company’s stock had a trading volume of 2,723,989 shares, compared to its average volume of 5,384,573. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 56.62 and a beta of 1.07. The stock’s fifty day moving average is $8.66 and its 200 day moving average is $16.07. Alignment Healthcare, Inc. has a 1-year low of $6.01 and a 1-year high of $25.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.71 and a current ratio of 1.71.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Alignment Healthcare had a return on equity of 12.46% and a net margin of 0.59%. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, equities research analysts predict that Alignment Healthcare, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of ALHC. Polymer Capital Management US LLC purchased a new position in shares of Alignment Healthcare in the third quarter valued at $158,000. Gabelli Funds LLC increased its stake in Alignment Healthcare by 100.0% during the 3rd quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock worth $408,000 after buying an additional 25,000 shares during the period. AlphaGrep UK Ltd purchased a new stake in Alignment Healthcare during the 3rd quarter worth $129,000. Benjamin Edwards Inc. increased its stake in Alignment Healthcare by 2.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 51,551 shares of the company’s stock worth $421,000 after buying an additional 1,351 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Alignment Healthcare by 80.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,026,646 shares of the company’s stock worth $8,475,000 after buying an additional 458,435 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALHC has been the topic of a number of recent analyst reports. William Blair downgraded shares of Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Friday, October 9th. Barclays lowered their price objective on shares of Alignment Healthcare from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. Scotiabank set a $9.00 price objective on Alignment Healthcare in a report on Friday, October 9th. UBS Group cut their target price on Alignment Healthcare from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Finally, TD Cowen reduced their target price on Alignment Healthcare from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.