Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,175,400.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the sale, the chief executive officer now directly owns 2,273,100 shares of the company’s stock, valued at $29,686,686. This represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC traded up $1.62 on Monday, reaching $13.50. The company’s stock had a trading volume of 4,890,529 shares, compared to its average volume of 1,764,946. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25. The stock has a market capitalization of $2.59 billion, a P/E ratio of -17.53 and a beta of 1.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock’s 50-day moving average is $11.91 and its two-hundred day moving average is $10.58.

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

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C boosted its holdings in Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after acquiring an additional 1,507,759 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Alignment Healthcare during the third quarter worth about $3,782,000. Renaissance Technologies LLC lifted its stake in shares of Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position 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 buying an additional 205,705 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ALHC shares. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Thursday, January 2nd. UBS Group increased their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays raised their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp initiated coverage on Alignment Healthcare in a report 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, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

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.