John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $13.42, for a total transaction of $1,207,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,453,100 shares in the company, valued at approximately $32,920,602. This trade represents a 3.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Alignment Healthcare Stock Up 0.4 %

ALHC opened at $12.83 on Friday. The business’s fifty day simple moving average is $11.49 and its 200 day simple moving average is $9.28. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $14.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $2.46 billion, a PE ratio of -16.60 and a beta of 1.45.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The business had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) EPS. As a group, research analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen raised their target price on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler reiterated an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, KeyCorp initiated coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.33.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently added to or reduced their stakes in the company. PDT Partners LLC grew its stake in shares of Alignment Healthcare by 14.3% in the third quarter. PDT Partners LLC now owns 125,532 shares of the company’s stock worth $1,484,000 after purchasing an additional 15,726 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of Alignment Healthcare by 85.3% during the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after buying an additional 55,771 shares during the period. Walleye Capital LLC raised its holdings in shares of Alignment Healthcare by 142.2% during the third quarter. Walleye Capital LLC now owns 178,110 shares of the company’s stock valued at $2,105,000 after acquiring an additional 104,565 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in 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 acquiring an additional 73,402 shares during the period. Finally, Algert Global LLC boosted its holdings in Alignment Healthcare by 44.8% in the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock valued at $956,000 after acquiring an additional 25,050 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.