Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao Sells 34,430 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 34,430 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $615,952.70. Following the sale, the chief executive officer now directly owns 4,923,186 shares in the company, valued at approximately $88,075,797.54. This represents a 0.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $18.30 on Friday. The company has a market capitalization of $3.51 billion, a P/E ratio of -23.77 and a beta of 1.49. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $18.44. The business’s 50 day moving average is $15.28 and its two-hundred day moving average is $12.97. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ALHC shares. Barclays upped their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Bank of America raised their target price 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. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in ALHC. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare in the 3rd quarter worth about $131,000. Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare during the 3rd quarter worth approximately $315,000. Charles Schwab Investment Management Inc. grew its position in shares of Alignment Healthcare by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after purchasing an additional 13,865 shares in the last quarter. Algert Global LLC increased its holdings in shares of Alignment Healthcare by 44.8% in the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock valued at $956,000 after purchasing an additional 25,050 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Alignment Healthcare by 132.2% during the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after buying an additional 73,402 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.