Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down on Insider Selling

Alignment Healthcare, Inc. (NASDAQ:ALHC) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $12.83, but opened at $11.10. Alignment Healthcare shares last traded at $11.51, with a volume of 5,217,110 shares trading hands.

Specifically, insider Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.35, for a total transaction of $340,500.00. Following the completion of the sale, the insider now owns 1,696,097 shares of the company’s stock, valued at $19,250,700.95. The trade was a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Monday, November 11th. The shares were sold at an average price of $13.42, for a total value of $1,207,800.00. Following the transaction, the chief executive officer now owns 2,453,100 shares in the company, valued at $32,920,602. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 30,500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $13.42, for a total value of $409,310.00. Following the completion of the sale, the chief financial officer now owns 92,929 shares in the company, valued at $1,247,107.18. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALHC shares. Barclays boosted their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, UBS Group raised their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Alignment Healthcare Trading Down 10.5 %

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a 50-day moving average price of $11.59 and a two-hundred day moving average price of $9.38. The stock has a market cap of $2.20 billion, a PE ratio of -14.92 and a beta of 1.45.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. Sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently bought and sold shares of the business. Creative Planning grew its stake in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares in the last quarter. Principal Financial Group Inc. grew its position in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after acquiring an additional 3,334 shares during the last quarter. nVerses Capital LLC purchased a new stake in Alignment Healthcare during the third quarter valued at approximately $95,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after purchasing an additional 9,595 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.