Insider Selling: Alignment Healthcare (NASDAQ:ALHC) CEO Sells 298,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 298,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the completion of the sale, the chief executive officer directly owned 1,386,766 shares of the company’s stock, valued at approximately $28,234,555.76. This trade represents a 17.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $19.75 on Friday. The company has a 50-day moving average of $18.53 and a 200-day moving average of $19.40. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 219.44, a PEG ratio of 2.73 and a beta of 1.14. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently added to or reduced their stakes in ALHC. Summit Securities Group LLC bought a new position in Alignment Healthcare during the 4th quarter valued at about $26,000. Parallel Advisors LLC lifted its holdings in Alignment Healthcare by 87.7% during the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the last quarter. Larson Financial Group LLC bought a new position in Alignment Healthcare during the 3rd quarter valued at about $33,000. First Horizon Corp bought a new position in Alignment Healthcare during the 4th quarter valued at about $39,000. Finally, GAMMA Investing LLC lifted its holdings in Alignment Healthcare by 83.8% during the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after purchasing an additional 987 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALHC. Weiss Ratings raised shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday. Raymond James Financial set a $22.00 price objective on shares of Alignment Healthcare in a report on Thursday, May 7th. UBS Group increased their target price on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Barclays cut their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.