Alignment Healthcare (NASDAQ:ALHC) CEO Sells $11,349,843.52 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 605,648 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $11,349,843.52. Following the completion of the sale, the chief executive officer owned 2,234,294 shares of the company’s stock, valued at $41,870,669.56. This trade represents a 21.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Alignment Healthcare Stock Performance

NASDAQ ALHC traded up $0.30 during trading hours on Tuesday, hitting $19.24. 2,308,291 shares of the stock were exchanged, compared to its average volume of 3,029,631. Alignment Healthcare, Inc. has a 12-month low of $11.01 and a 12-month high of $21.06. The stock has a 50-day moving average of $18.18 and a 200 day moving average of $16.19. The company has a market cap of $3.85 billion, a price-to-earnings ratio of -160.33 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The business had revenue of $993.70 million during the quarter, compared to the consensus estimate of $980.90 million. During the same period in the prior year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. As a group, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

ALHC has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays raised their price target on Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Zacks Research cut Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.35.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds have recently made changes to their positions in ALHC. Raymond James Financial Inc. increased its stake in Alignment Healthcare by 31.1% during the first quarter. Raymond James Financial Inc. now owns 206,174 shares of the company’s stock worth $3,839,000 after acquiring an additional 48,901 shares during the last quarter. Strs Ohio purchased a new stake in shares of Alignment Healthcare during the 1st quarter worth about $600,000. Inspire Investing LLC acquired a new stake in Alignment Healthcare during the 3rd quarter worth approximately $1,129,000. Ameritas Investment Partners Inc. increased its position in Alignment Healthcare by 32.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock worth $182,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Alignment Healthcare by 1,025.2% in the first quarter. Acadian Asset Management LLC now owns 375,949 shares of the company’s stock valued at $6,992,000 after buying an additional 342,537 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.