Alignment Healthcare (NASDAQ:ALHC) EVP Sells 25,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) EVP Joseph Konowiecki sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the sale, the executive vice president directly owned 1,103,816 shares of the company’s stock, valued at $26,491,584. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Trading Up 0.8%

Shares of Alignment Healthcare stock traded up $0.20 during trading on Wednesday, hitting $24.01. The stock had a trading volume of 4,167,948 shares, compared to its average volume of 4,342,734. The stock has a 50 day simple moving average of $18.87 and a 200 day simple moving average of $19.64. The company has a market capitalization of $4.96 billion, a PE ratio of 266.78, a P/E/G ratio of 3.14 and a beta of 1.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $24.12.

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

Analyst Ratings Changes

ALHC has been the subject of several research analyst reports. UBS Group increased their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Raymond James Financial set a $22.00 target price on Alignment Healthcare in a report on Thursday, May 7th. Zacks Research raised shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, Barclays lowered their price objective on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALHC. Vanguard Group Inc. increased its holdings in Alignment Healthcare by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock worth $305,983,000 after buying an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP raised its position in Alignment Healthcare by 26.9% during the fourth quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock valued at $277,900,000 after acquiring an additional 2,981,166 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Alignment Healthcare by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock valued at $249,715,000 after acquiring an additional 79,268 shares during the last quarter. Invesco Ltd. grew its position in Alignment Healthcare by 38.9% in the fourth quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock worth $122,501,000 after acquiring an additional 1,735,962 shares in the last quarter. Finally, 8 Knots Management LLC raised its holdings in shares of Alignment Healthcare by 6.4% during the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock valued at $70,222,000 after purchasing an additional 300,409 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.