Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $51,236.96 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of Alignment Healthcare stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares in the company, valued at approximately $12,575,829.17. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alignment Healthcare Trading Up 0.9 %

Shares of NASDAQ ALHC opened at $18.30 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $18.44. The business has a 50-day moving average price of $15.28 and a two-hundred day moving average price of $13.01. The firm has a market capitalization of $3.51 billion, a PE ratio of -23.77 and a beta of 1.49.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently made changes to their positions in ALHC. R Squared Ltd acquired a new position in Alignment Healthcare in the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at $106,000. Tower Research Capital LLC TRC increased its stake 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 worth $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Alignment Healthcare during the fourth quarter worth $121,000. Finally, Aigen Investment Management LP acquired a new stake in Alignment Healthcare during the fourth quarter valued at $129,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ALHC shares. Stifel Nicolaus lifted their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Barclays upped their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

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.