John Kao Sells 118,000 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 118,000 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $17.48, for a total transaction of $2,062,640.00. Following the sale, the chief executive officer directly owned 2,354,641 shares in the company, valued at approximately $41,159,124.68. The trade was a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded up $0.17 on Monday, hitting $17.51. The company’s stock had a trading volume of 3,618,515 shares, compared to its average volume of 3,023,356. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of -1,749.25, a price-to-earnings-growth ratio of 2.54 and a beta of 1.19. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $23.87. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a fifty day moving average price of $20.44 and a 200-day moving average price of $18.82.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.Alignment Healthcare’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.16) earnings per share. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in shares of Alignment Healthcare by 85.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock worth $1,794,000 after buying an additional 47,472 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Alignment Healthcare in the third quarter valued at approximately $3,499,000. Hudson Bay Capital Management LP acquired a new position in Alignment Healthcare in the third quarter valued at approximately $4,581,000. Inspire Investing LLC purchased a new position in Alignment Healthcare in the third quarter worth approximately $1,129,000. Finally, Cinctive Capital Management LP acquired a new stake in Alignment Healthcare during the third quarter worth $3,814,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ALHC shares. UBS Group boosted their price target on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Robert W. Baird set a $28.00 target price on shares of Alignment Healthcare in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st. Finally, TD Cowen lifted their price objective on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $24.56.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.