Alignment Healthcare (NASDAQ:ALHC) CEO Sells $2,062,640.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 118,000 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $17.48, for a total value of $2,062,640.00. Following the transaction, the chief executive officer owned 2,354,641 shares of the company’s stock, valued at approximately $41,159,124.68. This represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alignment Healthcare Trading Up 1.0%

Shares of NASDAQ:ALHC traded up $0.17 during midday trading on Monday, reaching $17.51. 3,618,515 shares of the company’s stock were exchanged, compared to its average volume of 3,023,356. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -1,749.25, a P/E/G ratio of 2.54 and a beta of 1.19. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The firm’s 50 day simple moving average is $20.44 and its two-hundred day simple moving average is $18.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.71 and a quick ratio of 1.71.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. Alignment Healthcare’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. As a group, sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ALHC shares. Piper Sandler lifted their target price on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. TD Cowen lifted their price objective on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, UBS Group increased their target price on Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.56.

Institutional Investors Weigh In On Alignment Healthcare

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Alignment Healthcare by 167.3% during the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after buying an additional 6,940,277 shares in the last quarter. Invesco Ltd. grew its stake in shares of Alignment Healthcare by 122.3% in the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock worth $58,387,000 after acquiring an additional 2,294,739 shares in the last quarter. Capital World Investors purchased a new stake in shares of Alignment Healthcare during the fourth quarter worth $44,203,000. Loomis Sayles & Co. L P purchased a new stake in shares of Alignment Healthcare during the fourth quarter worth $44,162,000. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at $39,500,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

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.