Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells 22,460 Shares of Stock

by · The Cerbat Gem

Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) insider Hyong Kim sold 22,460 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total value of $247,733.80. Following the completion of the sale, the insider now owns 533,070 shares of the company’s stock, valued at $5,879,762.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC traded down $0.02 during mid-day trading on Thursday, reaching $11.31. The stock had a trading volume of 971,820 shares, compared to its average volume of 1,021,397. The business’s 50 day moving average price is $9.92 and its 200 day moving average price is $8.04. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $12.36. The company has a market cap of $2.16 billion, a P/E ratio of -13.31 and a beta of 1.47. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. During the same period in the prior year, the company earned ($0.15) EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. Research analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALHC. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. TD Cowen lifted their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays increased their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Robert W. Baird lifted their target price 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, Stifel Nicolaus increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $9.83.

View Our Latest Stock Analysis on ALHC

Institutional Trading of Alignment Healthcare

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the first quarter worth about $57,000. Virtu Financial LLC purchased a new stake in Alignment Healthcare during the first quarter valued at approximately $57,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the period. Mackenzie Financial Corp increased its position in shares of Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after purchasing an additional 19,129 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Alignment Healthcare by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after purchasing an additional 9,595 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

About Alignment Healthcare

(Get Free Report)

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.

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