Alignment Healthcare, Inc. (NASDAQ:ALHC) Chairman Sells $202,944.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) Chairman Joseph S. Konowiecki sold 22,400 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $9.06, for a total transaction of $202,944.00. Following the sale, the chairman now owns 1,233,221 shares of the company’s stock, valued at $11,172,982.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $10.00 on Friday. The firm has a 50 day simple moving average of $7.86 and a 200-day simple moving average of $6.70. 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 one year low of $4.46 and a one year high of $10.03. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -11.90 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The business had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. During the same period in the previous year, the business posted ($0.20) EPS. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALHC. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the first quarter worth approximately $57,000. Virtu Financial LLC purchased a new position in Alignment Healthcare in the first quarter worth approximately $57,000. Barlow Wealth Partners Inc. purchased a new position in Alignment Healthcare in the fourth quarter worth approximately $100,000. Victory Capital Management Inc. lifted its stake in Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Aigen Investment Management LP lifted its stake in Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after acquiring an additional 3,092 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the subject of several recent analyst reports. Stephens raised their price objective on shares of Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Stifel Nicolaus cut their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Piper Sandler upgraded shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $6.00 to $8.00 in a research report on Wednesday, May 8th. Finally, Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.11.

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.