Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Sells $3,895,000.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $15.58, for a total transaction of $3,895,000.00. Following the completion of the sale, the chief financial officer now owns 1,635,849 shares of the company’s stock, valued at $25,486,527.42. This trade represents a 13.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Robert Thomas Freeman also recently made the following trade(s):

• On Thursday, March 6th, Robert Thomas Freeman sold 218,295 shares of Alignment Healthcare stock. The shares were sold at an average price of $15.53, for a total transaction of $3,390,121.35.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $14.89 on Friday. The company has a 50-day moving average of $13.97 and a two-hundred day moving average of $12.21. 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 cap of $2.86 billion, a P/E ratio of -19.34 and a beta of 1.49. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $16.25.

Wall Street Analyst Weigh In

Several analysts recently commented on ALHC shares. Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Bank of America lifted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” 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. Finally, Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $106,000. Tower Research Capital LLC TRC raised its position in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.