John E. Kao Sells 34,430 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 34,430 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $615,952.70. Following the transaction, the chief executive officer now directly owns 4,923,186 shares in the company, valued at approximately $88,075,797.54. This represents a 0.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC traded up $0.17 on Friday, hitting $18.30. 1,599,660 shares of the company were exchanged, compared to its average volume of 1,491,362. The company’s 50 day moving average price is $15.28 and its two-hundred day moving average price is $12.97. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49. 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 one year low of $4.46 and a one year high of $18.60.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Alignment Healthcare in the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC bought a new stake in shares of Alignment Healthcare during the fourth quarter valued at approximately $106,000. Tower Research Capital LLC TRC raised its stake in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after purchasing an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at $121,000. Finally, Aigen Investment Management LP bought a new position in Alignment Healthcare in the fourth quarter worth $129,000. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays upped their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Bank of America upped their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned 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 a consensus target price of $14.83.

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.