Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Hyong Kim Sells 22,460 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hyong Kim sold 22,460 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $11.03, for a total transaction of $247,733.80. Following the transaction, the insider now directly owns 533,070 shares in the company, valued at approximately $5,879,762.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $11.31 on Friday. The company has a 50 day moving average price of $9.98 and a 200-day moving average price of $8.06. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $12.36. The firm has a market capitalization of $2.16 billion, a PE ratio of -13.46 and a beta of 1.47. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Alignment Healthcare during the first quarter valued at approximately $57,000. Blue Trust Inc. lifted its holdings in shares of Alignment Healthcare by 47.4% in the first quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock worth $1,272,000 after buying an additional 82,476 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after buying an additional 93,262 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in shares of Alignment Healthcare by 49.6% in the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after buying an additional 968,637 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Barclays raised their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. TD Cowen lifted their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Robert W. Baird lifted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and an average price target of $9.83.

Alignment Healthcare Company Profile

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.