Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Christopher J. Joyce Sells 16,000 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $7.90 on Tuesday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -9.40 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $9.20. The firm’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $6.69.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The company had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. During the same period in the prior year, the firm posted ($0.20) EPS. The business’s revenue was up 43.1% on a year-over-year basis. As a group, equities analysts forecast that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Institutional Trading of Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. bought a new stake in shares of Alignment Healthcare in the first quarter valued at approximately $57,000. Virtu Financial LLC bought a new stake in shares of Alignment Healthcare in the first quarter valued at approximately $57,000. Barlow Wealth Partners Inc. bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $100,000. Teza Capital Management LLC bought a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $109,000. Finally, Victory Capital Management Inc. raised its position in shares of Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares during the period. Institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ALHC shares. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. Stifel Nicolaus cut their price target on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Barclays started coverage on shares of Alignment Healthcare in a report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price target on the stock. UBS Group cut their price target on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.20.

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.