Robert L. Scavo Sells 55,403 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 55,403 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $860,408.59. Following the transaction, the insider now owns 673,419 shares in the company, valued at approximately $10,458,197.07. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock opened at $14.89 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $16.25. The firm has a fifty day moving average price of $13.89 and a two-hundred day moving average price of $12.14. The company has a market cap of $2.86 billion, a PE ratio of -19.34 and a beta of 1.49.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently bought and sold shares of ALHC. R Squared Ltd bought a new stake in Alignment Healthcare in the 4th quarter valued at $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare during the 4th quarter worth about $106,000. Tower Research Capital LLC TRC lifted its holdings in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares during the period. Ballentine Partners LLC bought a new position in shares of Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP bought a new position in shares of Alignment Healthcare during the 4th quarter worth about $129,000. 86.19% of the stock is owned by institutional investors.

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.