Insider Selling: 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 business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total value of $465,066.15. Following the completion of the transaction, the chief executive officer now owns 4,991,717 shares in the company, valued at $84,310,100.13. The trade was a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Trading Up 2.5 %

Shares of ALHC stock opened at $17.61 on Friday. The company’s fifty day simple moving average is $14.90 and its two-hundred day simple moving average is $12.69. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $17.76. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -22.87 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALHC shares. Stifel Nicolaus boosted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barclays boosted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC raised its holdings in Alignment Healthcare by 85.3% during the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after acquiring an additional 55,771 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after purchasing an additional 205,705 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after purchasing an additional 180,522 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares during the period. Finally, Barclays PLC increased its holdings in shares of Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after purchasing an additional 114,191 shares during the period. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.