Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells 90,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $1,719,000.00. Following the completion of the transaction, the chief executive officer now owns 2,003,100 shares in the company, valued at $38,259,210. The trade was a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $19.48 on Thursday. The business’s 50-day moving average is $16.39 and its 200 day moving average is $13.74. Alignment Healthcare, Inc. has a 12 month low of $4.80 and a 12 month high of $21.06. The company has a market capitalization of $3.74 billion, a P/E ratio of -25.30 and a beta of 1.32. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stephens reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Robert W. Baird lifted their price target on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $16.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALHC. R Squared Ltd purchased a new stake in Alignment Healthcare during the fourth quarter valued at $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare in the 4th quarter valued at about $106,000. Tower Research Capital LLC TRC grew its position in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares in the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the fourth quarter worth approximately $121,000. Finally, Aigen Investment Management LP purchased a new stake in Alignment Healthcare during the fourth quarter valued at approximately $129,000. 86.19% of the stock is currently owned by institutional investors.

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.