Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao Sells 90,000 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the sale, the chief executive officer now directly owns 2,363,100 shares of the company’s stock, valued at $27,530,115. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Price Performance

ALHC traded up $0.33 during midday trading on Friday, hitting $11.45. 1,376,437 shares of the company traded hands, compared to its average volume of 1,174,512. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -14.87 and a beta of 1.42. The business has a 50 day simple moving average of $11.97 and a two-hundred day simple moving average of $10.05. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) EPS. On average, equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ALHC. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Stephens raised Alignment Healthcare from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $17.00 in a research report on Tuesday, December 3rd. Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its stake in shares of Alignment Healthcare by 85.3% in the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after buying an additional 55,771 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in shares of Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alignment Healthcare by 27.5% in the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.