Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao Sells 554,713 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 554,713 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the completion of the sale, the chief executive officer now directly owns 4,733,664 shares of the company’s stock, valued at approximately $73,513,801.92. This trade represents a 10.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alignment Healthcare Stock Down 3.5 %

Shares of NASDAQ:ALHC opened at $15.25 on Friday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -19.81 and a beta of 1.49. The firm’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $12.14. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $16.25.

Institutional Trading of Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in ALHC. Wellington Management Group LLP boosted its holdings in shares of Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after acquiring an additional 3,059,596 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Alignment Healthcare by 588.3% in the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock valued at $38,122,000 after acquiring an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $20,087,000. Finally, Broad Bay Capital Management LP acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $18,804,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALHC shares. JPMorgan Chase & Co. increased their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday. Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Bank of America increased their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Piper Sandler increased their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday. One 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 company’s stock. Based on data from MarketBeat.com, the company 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.