Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,048,500.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the transaction, the chief executive officer now directly owns 2,363,100 shares in the company, valued at $27,530,115. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alignment Healthcare Trading Up 3.0 %

Shares of ALHC opened at $11.45 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -14.87 and a beta of 1.42. The business’s fifty day moving average is $11.98 and its 200-day moving average is $10.08.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share. Equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALHC shares. KeyCorp began coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $17.00 in a research report on Tuesday, December 3rd. Finally, Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $11.44.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC grew its stake 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 during the last quarter. Deerfield Management Company L.P. Series C grew its position in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares in the last quarter. Finally, Principal Financial Group Inc. grew 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 purchasing an additional 180,522 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.