Insider Selling: 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 the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at $29,686,686. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock opened at $13.90 on Thursday. The firm has a market cap of $2.66 billion, a PE ratio of -18.05 and a beta of 1.45. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The business has a 50-day moving average price of $11.91 and a 200 day moving average price of $10.66.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $662.11 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The business’s revenue was up 51.6% compared to the same quarter last year. Sell-side analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. Verition Fund Management LLC lifted its stake in Alignment Healthcare by 85.3% in the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after buying an additional 55,771 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after acquiring an additional 73,402 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after purchasing an additional 180,522 shares in the last quarter. Barclays PLC raised its stake in Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in Alignment Healthcare by 31.8% in the 2nd 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 purchasing an additional 2,630,788 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ALHC shares. KeyCorp started coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Barclays raised their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Thursday, January 2nd. Finally, UBS Group boosted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.88.

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.