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

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $14.37, but opened at $14.00. Alignment Healthcare shares last traded at $13.34, with a volume of 228,730 shares.

Specifically, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total value of $411,600.00. Following the transaction, the president now owns 1,576,097 shares of the company’s stock, valued at approximately $21,624,050.84. This trade represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

ALHC has been the topic of a number of analyst reports. Barclays lifted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Thursday, January 2nd. UBS Group raised their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.88.

Alignment Healthcare Trading Down 8.4 %

The company has a fifty day moving average of $13.19 and a two-hundred day moving average of $11.76. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -17.10 and a beta of 1.50.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. Mackenzie Financial Corp increased its position in Alignment Healthcare by 149.8% in the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $958,000 after buying an additional 51,084 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Alignment Healthcare by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after buying an additional 36,151 shares during the period. Voloridge Investment Management LLC bought a new position in Alignment Healthcare in the 4th quarter worth approximately $189,000. Squarepoint Ops LLC increased its position in Alignment Healthcare by 414.6% in the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after buying an additional 159,774 shares during the period. Finally, Two Sigma Investments LP bought a new position in Alignment Healthcare in the 4th quarter worth approximately $258,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.