Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao Sells 27,535 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 27,535 shares of Alignment Healthcare stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $465,066.15. Following the transaction, the chief executive officer now owns 4,991,717 shares of the company’s stock, valued at $84,310,100.13. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alignment Healthcare Stock Up 2.7 %

Alignment Healthcare stock opened at $17.19 on Thursday. 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 company has a market capitalization of $3.30 billion, a P/E ratio of -22.32 and a beta of 1.49. The firm has a 50 day moving average price of $14.68 and a 200-day moving average price of $12.59. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $17.38.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC lifted its position in shares of Alignment Healthcare by 85.3% during the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after buying an additional 55,771 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after purchasing an additional 205,705 shares during the last quarter. Principal Financial Group Inc. boosted 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 purchasing an additional 180,522 shares during the period. The Manufacturers Life Insurance Company increased its stake 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 worth $1,524,000 after purchasing an additional 73,402 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares during the period. 86.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALHC shares. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stifel Nicolaus raised their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Finally, Piper Sandler increased their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.