Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Chairman Sells 2,600 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) Chairman Joseph S. Konowiecki sold 2,600 shares of Alignment Healthcare stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $9.00, for a total value of $23,400.00. Following the transaction, the chairman now owns 1,255,621 shares of the company’s stock, valued at $11,300,589. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alignment Healthcare Stock Up 9.9 %

Alignment Healthcare stock traded up $0.89 during trading on Tuesday, reaching $9.87. 1,701,775 shares of the company’s stock were exchanged, compared to its average volume of 909,035. The company’s 50-day moving average is $7.73 and its two-hundred day moving average is $6.65. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $10.00. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -11.75 and a beta of 1.43.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALHC. Baird R W upgraded Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Stephens boosted their price target on Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Piper Sandler upgraded Alignment Healthcare from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $6.00 to $8.00 in a report on Wednesday, May 8th. Robert W. Baird began coverage on Alignment Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price target for the company. Finally, Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.11.

Institutional Trading of Alignment Healthcare

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Alignment Healthcare during the 1st quarter worth $57,000. Principal Financial Group Inc. purchased a new stake in Alignment Healthcare during the 1st quarter worth $57,000. Barlow Wealth Partners Inc. purchased a new stake in Alignment Healthcare during the 4th quarter worth $100,000. Victory Capital Management Inc. boosted its position in Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares during the period. Finally, Aigen Investment Management LP boosted its position in Alignment Healthcare by 18.5% in the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after buying an additional 3,092 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.