Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sells 6,694 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 6,694 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the transaction, the chief operating officer now directly owns 250,378 shares in the company, valued at approximately $4,106,199.20. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Alignment Healthcare Price Performance

Shares of ALHC traded up $0.45 during mid-day trading on Wednesday, hitting $17.19. The company’s stock had a trading volume of 2,791,742 shares, compared to its average volume of 1,412,390. The firm has a 50-day simple moving average of $14.68 and a 200 day simple moving average of $12.59. The firm has a market capitalization of $3.30 billion, a P/E ratio of -22.32 and a beta of 1.49. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $17.41. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Analysts Set New Price Targets

ALHC has been the topic of a number of analyst reports. Barclays increased their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in Alignment Healthcare by 149.8% during the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $958,000 after purchasing an additional 51,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alignment Healthcare by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after purchasing an additional 36,151 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at $189,000. Squarepoint Ops LLC grew its position in shares of Alignment Healthcare by 414.6% in the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after purchasing an additional 159,774 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at $258,000. 86.19% of the stock is owned by institutional investors and hedge funds.

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.