Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Christopher J. Joyce Sells 1,300 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 1,300 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $10.00, for a total transaction of $13,000.00. Following the transaction, the insider now directly owns 404,279 shares of the company’s stock, valued at $4,042,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $9.50 on Friday. The company has a market capitalization of $1.82 billion, a PE ratio of -11.31 and a beta of 1.43. The business has a fifty day moving average price of $8.89 and a 200-day moving average price of $7.13. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $10.16. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. Alignment Healthcare’s revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. As a group, equities analysts expect that Alignment Healthcare, Inc. will post -0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALHC has been the topic of several research analyst reports. Robert W. Baird boosted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Alignment Healthcare by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after buying an additional 10,123 shares in the last quarter. Jump Financial LLC purchased a new position in Alignment Healthcare in the 4th quarter worth about $575,000. Aigen Investment Management LP lifted its stake in Alignment Healthcare by 18.5% during the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after acquiring an additional 3,092 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Alignment Healthcare by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after acquiring an additional 3,334 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.