Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao Sells 90,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the transaction, the chief executive officer now owns 2,273,100 shares of the company’s stock, valued at approximately $29,686,686. This trade represents a 3.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $13.50 on Tuesday. The firm has a 50 day simple moving average of $11.91 and a 200-day simple moving average of $10.62. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $14.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -17.53 and a beta of 1.45.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. During the same quarter in the prior year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ALHC. 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 stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Institutional Trading of Alignment Healthcare

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after buying an additional 205,705 shares during the period. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 1,335.1% during the 3rd 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 period. Geode Capital Management LLC boosted its position in shares of Alignment Healthcare by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock worth $28,875,000 after purchasing an additional 32,839 shares during the period. Barclays PLC boosted its position in shares of Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after purchasing an additional 114,191 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Alignment Healthcare during the 3rd quarter worth approximately $523,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.