Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) President Sells 278,917 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) President Dawn Christine Maroney sold 278,917 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 value of $4,331,581.01. Following the sale, the president now owns 2,303,975 shares of the company’s stock, valued at approximately $35,780,731.75. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Dawn Christine Maroney also recently made the following trade(s):

• On Tuesday, February 18th, Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock. The stock was sold at an average price of $13.72, for a total value of $411,600.00.
• On Wednesday, January 15th, Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock. The shares were sold at an average price of $13.61, for a total value of $408,300.00.

Alignment Healthcare Stock Performance

ALHC opened at $14.89 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average price is $13.89 and its two-hundred day moving average price is $12.14. The firm has a market capitalization of $2.86 billion, a P/E ratio of -19.34 and a beta of 1.49. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $16.25.

Institutional Investors Weigh In On Alignment Healthcare

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Piper Sandler upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price objective on 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

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.