John E. Kao Sells 27,535 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 27,535 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $465,066.15. Following the transaction, the chief executive officer now owns 4,991,717 shares of the company’s stock, valued at approximately $84,310,100.13. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $17.18 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $3.30 billion, a P/E ratio of -22.31 and a beta of 1.49. The firm’s fifty day simple moving average is $14.79 and its two-hundred day simple moving average is $12.63. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $17.38.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler boosted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target 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. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Stifel Nicolaus upped their price target 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently bought and sold shares of ALHC. R Squared Ltd bought a new stake in Alignment Healthcare during the fourth quarter valued at $55,000. RiverPark Advisors LLC bought a new stake in Alignment Healthcare during the fourth quarter valued at $106,000. Tower Research Capital LLC TRC boosted its position in Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the fourth quarter valued at $121,000. Finally, Aigen Investment Management LP bought a new stake in Alignment Healthcare during the fourth quarter valued at $129,000. 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.