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

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alignment Healthcare Trading Down 0.2 %

Shares of ALHC stock opened at $11.31 on Friday. The company has a 50-day moving average of $9.98 and a two-hundred day moving average of $8.06. The firm has a market cap of $2.16 billion, a PE ratio of -13.46 and a beta of 1.47. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $12.36. 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 posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $637.66 million. During the same quarter in the previous year, the business earned ($0.15) EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, analysts predict that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ALHC shares. TD Cowen raised their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Barclays boosted their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Robert W. Baird increased their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.83.

Institutional Inflows and Outflows

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