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

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the sale, the chief executive officer now owns 2,183,100 shares in the company, valued at approximately $31,065,513. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alignment Healthcare Stock Down 4.5 %

ALHC stock opened at $13.87 on Friday. The business’s 50-day moving average is $12.91 and its two-hundred day moving average is $11.55. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -18.01 and a beta of 1.50. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $15.82. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently made changes to their positions in the business. Creative Planning increased its holdings in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares during the last quarter. Rhumbline Advisers grew its position in shares of Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after acquiring an additional 2,937 shares during the period. Alliancebernstein L.P. increased its stake in shares of Alignment Healthcare by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after purchasing an additional 3,300 shares in the last quarter. R Squared Ltd bought a new position in Alignment Healthcare in the 4th quarter worth $55,000. Finally, SG Americas Securities LLC lifted its position in Alignment Healthcare by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock valued at $554,000 after purchasing an additional 5,163 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. Finally, Barclays upped their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.88.

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.