Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down on Insider Selling

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $14.37, but opened at $14.00. Alignment Healthcare shares last traded at $13.34, with a volume of 228,730 shares.

Specifically, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the transaction, the president now owns 1,576,097 shares in the company, valued at $21,624,050.84. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

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

Alignment Healthcare Price Performance

The business has a fifty day moving average price of $13.16 and a 200-day moving average price of $11.73. The stock has a market capitalization of $2.58 billion, a PE ratio of -17.40 and a beta of 1.50. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. R Squared Ltd bought a new stake in shares of Alignment Healthcare in the 4th quarter valued at about $55,000. RiverPark Advisors LLC bought a new position in Alignment Healthcare in the fourth quarter worth $106,000. Tower Research Capital LLC TRC raised its holdings in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after purchasing an additional 6,286 shares in the last quarter. Ballentine Partners LLC purchased a new position in Alignment Healthcare during the fourth quarter valued at $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the 3rd quarter valued at $131,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.