Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Sells $250,000.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Joseph S. Konowiecki sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the transaction, the director now directly owns 1,208,221 shares in the company, valued at approximately $12,082,210. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $10.07 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $1.93 billion, a P/E ratio of -11.99 and a beta of 1.43. The company’s 50 day moving average price is $7.92 and its two-hundred day moving average price is $6.68. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $10.10.

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

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings 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 last quarter. Aigen Investment Management LP raised its holdings in shares of Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after purchasing an additional 3,092 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Alignment Healthcare by 18.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after purchasing an additional 4,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alignment Healthcare by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after purchasing an additional 10,123 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ALHC shares. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.75 to $11.00 in a research 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 research report on Tuesday, April 23rd. Robert W. Baird started coverage on shares of Alignment Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price target on the stock. Stephens increased their price target on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.11.

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.