Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells 90,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,183,100 shares in the company, valued at approximately $31,065,513. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alignment Healthcare Stock Up 1.0 %

NASDAQ ALHC opened at $14.52 on Thursday. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $15.82. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $2.78 billion, a PE ratio of -18.86 and a beta of 1.50. The stock’s 50 day moving average is $12.88 and its 200 day moving average is $11.54.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. UBS Group upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.88.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently modified their holdings of ALHC. The Manufacturers Life Insurance Company increased its holdings in Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after acquiring an additional 9,595 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Alignment Healthcare in the third quarter worth about $521,000. Creative Planning increased its holdings in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the third quarter worth about $95,000. Finally, Principal Financial Group Inc. boosted its stake 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 valued at $2,294,000 after buying an additional 180,522 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.