Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sells 6,694 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 6,694 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $109,781.60. Following the sale, the chief operating officer now directly owns 250,378 shares of the company’s stock, valued at $4,106,199.20. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alignment Healthcare Trading Down 0.1 %

ALHC stock opened at $17.18 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $17.38. The business has a 50 day simple moving average of $14.79 and a two-hundred day simple moving average of $12.63. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -22.31 and a beta of 1.49.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Alignment Healthcare by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after purchasing an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Alignment Healthcare by 77.9% in 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. Hood River Capital Management LLC lifted its position in shares of Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after buying an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC boosted its stake in Alignment Healthcare by 49.5% during the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after buying an additional 1,211,727 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALHC shares. 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 research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Piper Sandler raised their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.83.

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.