Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Robert L. Scavo Sells 5,313 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 5,313 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $15.43, for a total transaction of $81,979.59. Following the completion of the transaction, the insider now owns 668,106 shares of the company’s stock, valued at $10,308,875.58. This trade represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alignment Healthcare Stock Performance

ALHC opened at $15.50 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $16.25. The firm has a market cap of $2.97 billion, a P/E ratio of -20.13 and a beta of 1.49. The business’s fifty day moving average is $14.30 and its 200-day moving average is $12.36.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALHC shares. Stifel Nicolaus boosted their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Bank of America raised their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Alignment Healthcare by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after buying an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Alignment Healthcare by 54.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after buying an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC grew its position in Alignment Healthcare by 39.6% during the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after acquiring an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC increased its holdings in Alignment Healthcare by 49.5% in the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,211,727 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

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.