Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Sells $101,627,072.34 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) Director Atlantic (Aln Hlth) L. General sold 6,955,994 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $14.61, for a total transaction of $101,627,072.34. Following the completion of the sale, the director now directly owns 60,993,323 shares of the company’s stock, valued at $891,112,449.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Alignment Healthcare Trading Down 3.0 %

NASDAQ:ALHC opened at $12.06 on Friday. Alignment Healthcare, Inc. has a 52 week low of $6.14 and a 52 week high of $23.35. The firm has a 50 day moving average of $15.11 and a 200 day moving average of $12.27. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -14.71 and a beta of 1.92.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.20. Alignment Healthcare had a negative net margin of 11.20% and a negative return on equity of 47.96%. During the same quarter in the previous year, the business earned ($0.25) earnings per share. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new position in Alignment Healthcare during the 1st quarter valued at approximately $34,000. First Quadrant LLC CA acquired a new position in Alignment Healthcare during the 1st quarter valued at approximately $47,000. US Bancorp DE increased its stake in Alignment Healthcare by 15.8% during the 2nd quarter. US Bancorp DE now owns 6,704 shares of the company’s stock valued at $76,000 after purchasing an additional 914 shares in the last quarter. Ieq Capital LLC acquired a new position in Alignment Healthcare during the 1st quarter valued at approximately $112,000. Finally, Victory Capital Management Inc. increased its stake in Alignment Healthcare by 10.4% during the 1st quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock valued at $107,000 after purchasing an additional 1,045 shares in the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the subject of several research reports. Barclays boosted 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 Monday, August 8th. The Goldman Sachs Group upped their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Cowen upped their price target on shares of Alignment Healthcare from $12.00 to $17.00 in a research report on Monday, August 22nd. Cowen upped their price target on shares of Alignment Healthcare from $12.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, August 22nd. Finally, Morgan Stanley upped their price target on shares of Alignment Healthcare from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.55.

Alignment Healthcare Company Profile

(Get Rating)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.

Further Reading

Insider Buying and Selling by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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