Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $81,979.59 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 5,313 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $15.43, for a total transaction of $81,979.59. Following the transaction, the insider now directly owns 668,106 shares of the company’s stock, valued at approximately $10,308,875.58. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alignment Healthcare Stock Up 1.9 %

ALHC opened at $15.79 on Friday. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $16.25. 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 company has a fifty day moving average of $14.38 and a two-hundred day moving average of $12.41. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -20.51 and a beta of 1.49.

Institutional Trading of Alignment Healthcare

Institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $55,000. RiverPark Advisors LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $106,000. Tower Research Capital LLC TRC grew its position in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after purchasing an additional 6,286 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare in the third quarter valued at about $131,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALHC. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Finally, Piper Sandler lifted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.