Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $615,952.70 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 34,430 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $615,952.70. Following the sale, the chief executive officer now directly owns 4,923,186 shares of the company’s stock, valued at approximately $88,075,797.54. This represents a 0.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Alignment Healthcare Stock Up 0.9 %

Shares of ALHC stock opened at $18.30 on Monday. The stock has a market cap of $3.51 billion, a P/E ratio of -23.77 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a fifty day moving average price of $15.28 and a 200 day moving average price of $13.01. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $18.44.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alignment Healthcare in the third quarter worth about $131,000. Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare in the 3rd quarter worth approximately $315,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Alignment Healthcare by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock worth $9,925,000 after buying an additional 13,865 shares in the last quarter. Algert Global LLC lifted its position in shares of Alignment Healthcare by 44.8% during the 3rd quarter. Algert Global LLC now owns 80,903 shares of the company’s stock worth $956,000 after buying an additional 25,050 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after acquiring an additional 73,402 shares during the period. 86.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.83.

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.