Robert L. Scavo Sells 2,864 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total transaction of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares of the company’s stock, valued at approximately $12,575,829.17. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Alignment Healthcare Price Performance

Shares of ALHC stock traded up $0.17 during mid-day trading on Friday, hitting $18.30. 1,599,660 shares of the stock traded hands, compared to its average volume of 1,491,362. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49. The company’s 50-day simple moving average is $15.28 and its 200-day simple moving average is $12.97. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $18.60.

Analysts Set New Price Targets

ALHC has been the topic of several recent research reports. Bank of America lifted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.83.

Institutional Inflows and Outflows

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

Alignment Healthcare Company Profile

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.