Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $81,979.59 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 5,313 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $15.43, for a total transaction of $81,979.59. Following the completion of the sale, the insider now owns 668,106 shares of the company’s stock, valued at approximately $10,308,875.58. This trade represents a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC traded down $0.21 during trading hours on Thursday, hitting $15.50. The stock had a trading volume of 1,216,078 shares, compared to its average volume of 2,088,706. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $16.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -20.13 and a beta of 1.49. The stock’s fifty day simple moving average is $14.30 and its 200 day simple moving average is $12.36.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Alignment Healthcare by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after buying an additional 166,837 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Alignment Healthcare by 54.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after buying an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of Alignment Healthcare by 39.6% during the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after purchasing an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC raised its holdings in Alignment Healthcare by 49.5% during the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after buying an additional 1,211,727 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Alignment Healthcare

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.