John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $15.36, for a total transaction of $1,382,400.00. Following the sale, the chief executive officer now directly owns 2,093,100 shares of the company’s stock, valued at $32,150,016. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Alignment Healthcare Price Performance

Shares of ALHC opened at $15.79 on Friday. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $16.25. 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 $14.38 and a 200 day moving average price of $12.41. The company has a market cap of $3.03 billion, a P/E ratio of -20.51 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays increased their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Piper Sandler lifted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Bank of America boosted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares during the period. Royce & Associates LP bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $3,782,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare during the third quarter worth approximately $131,000. Intech Investment Management LLC bought a new position in Alignment Healthcare in the 3rd quarter worth approximately $315,000. Finally, Charles Schwab Investment Management Inc. increased its position in Alignment Healthcare by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after acquiring an additional 13,865 shares during the period. Institutional investors own 86.19% of the company’s stock.

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.