Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $8,614,692.89 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 554,713 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the sale, the chief executive officer now directly owns 4,733,664 shares of the company’s stock, valued at $73,513,801.92. This represents a 10.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Alignment Healthcare Trading Down 2.4 %

Shares of Alignment Healthcare stock opened at $14.89 on Friday. The business has a fifty day simple moving average of $13.97 and a two-hundred day simple moving average of $12.21. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $16.25. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -19.34 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. Verition Fund Management LLC lifted its holdings in shares of Alignment Healthcare by 85.3% during the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after buying an additional 55,771 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after buying an additional 205,705 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Alignment Healthcare by 132.2% during the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after buying an additional 73,402 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Alignment Healthcare by 144.1% during the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after buying an additional 114,191 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Piper Sandler boosted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Bank of America boosted their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.