Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sells 6,694 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 6,694 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the completion of the transaction, the chief operating officer now directly owns 250,378 shares in the company, valued at approximately $4,106,199.20. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $17.61 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 fifty-two week low of $4.46 and a fifty-two week high of $17.76. The stock has a market cap of $3.38 billion, a PE ratio of -22.87 and a beta of 1.49. The stock has a fifty day moving average of $14.90 and a 200-day moving average of $12.69.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Piper Sandler increased their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Alignment Healthcare by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after buying an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after acquiring an additional 3,059,596 shares during the period. Wellington Management Group LLP lifted its stake in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after purchasing an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC grew its position in shares of Alignment Healthcare by 49.5% during the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after purchasing an additional 1,211,727 shares in the last quarter. 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.