Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Sells 6,920 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Joseph S. Konowiecki sold 6,920 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $13.73, for a total transaction of $95,011.60. Following the completion of the sale, the director now directly owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alignment Healthcare Trading Down 10.5 %

NASDAQ ALHC opened at $11.49 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -14.92 and a beta of 1.45. The firm has a 50 day simple moving average of $11.59 and a 200-day simple moving average of $9.35. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) EPS. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $196,000 after buying an additional 3,334 shares during the period. Vanguard Group Inc. raised its holdings in Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Alignment Healthcare by 49.6% in the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after acquiring an additional 968,637 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Alignment Healthcare during the 1st quarter worth approximately $918,000. Finally, Virtu Financial LLC purchased a new stake in shares of Alignment Healthcare in the 1st quarter valued at approximately $57,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALHC has been the topic of a number of recent analyst reports. Barclays upped their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. KeyCorp began coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.33.

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.