Insider Selling: Alignment Healthcare (NASDAQ:ALHC) CEO Sells $5,918,280.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 298,000 shares of Alignment Healthcare stock in a transaction on Friday, July 10th. The shares were sold at an average price of $19.86, for a total value of $5,918,280.00. Following the completion of the sale, the chief executive officer directly owned 1,088,766 shares of the company’s stock, valued at $21,622,892.76. This trade represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Trading Up 4.0%

Shares of ALHC traded up $0.82 during trading hours on Tuesday, hitting $21.20. 3,269,161 shares of the stock traded hands, compared to its average volume of 4,427,796. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 1-year low of $11.63 and a 1-year high of $25.12. The firm has a market capitalization of $4.38 billion, a PE ratio of 235.56, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. The business has a fifty day moving average of $19.03 and a 200-day moving average of $19.79.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. Analysts expect that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.

Analysts Set New Price Targets

ALHC has been the topic of several recent research reports. Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Raymond James Financial set a $22.00 target price on shares of Alignment Healthcare in a report on Thursday, May 7th. Finally, Barclays dropped their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently bought and sold shares of ALHC. Wellington Management Group LLP boosted its position in shares of Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after purchasing an additional 6,940,277 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Alignment Healthcare by 232.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,313,110 shares of the company’s stock valued at $58,377,000 after buying an additional 2,316,777 shares in the last quarter. Invesco Ltd. increased its position in shares of Alignment Healthcare by 122.3% in the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after buying an additional 2,294,739 shares in the last quarter. Capital World Investors acquired a new stake in Alignment Healthcare during the 4th quarter worth $44,203,000. Finally, Loomis Sayles & Co. L P acquired a new stake in Alignment Healthcare during the 4th quarter worth $44,162,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.