Andreas P. Wagner Sells 7,632 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 7,632 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $125,164.80. Following the completion of the sale, the insider now owns 223,474 shares of the company’s stock, valued at $3,664,973.60. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alignment Healthcare Stock Down 0.1 %

Shares of NASDAQ ALHC opened at $17.18 on Friday. The stock has a market cap of $3.30 billion, a P/E ratio of -22.31 and a beta of 1.49. The business’s fifty day simple moving average is $14.79 and its 200-day simple moving average is $12.63. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $17.38. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in shares of Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after buying an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Alignment Healthcare by 54.7% in 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 acquiring an additional 3,059,596 shares during the last quarter. Millennium Management LLC grew its holdings in Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after acquiring an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Alignment Healthcare during the 4th quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $18,804,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Bank of America boosted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Finally, Piper Sandler increased their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare currently 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.