Robert Thomas Freeman Sells 14,500 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 14,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.00, for a total transaction of $174,000.00. Following the transaction, the chief financial officer now directly owns 264,429 shares in the company, valued at approximately $3,173,148. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Thomas Freeman also recently made the following trade(s):

• On Wednesday, September 11th, Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61.
• On Wednesday, September 4th, Robert Thomas Freeman sold 1,650 shares of Alignment Healthcare stock. The stock was sold at an average price of $10.00, for a total transaction of $16,500.00.
• On Friday, July 19th, Robert Thomas Freeman sold 38,858 shares of Alignment Healthcare stock. The stock was sold at an average price of $10.01, for a total transaction of $388,968.58.
• On Wednesday, July 17th, Robert Thomas Freeman sold 22,100 shares of Alignment Healthcare stock. The stock was sold at an average price of $10.00, for a total transaction of $221,000.00.

Alignment Healthcare Price Performance

Alignment Healthcare stock traded up $0.31 during mid-day trading on Friday, hitting $11.89. The company’s stock had a trading volume of 1,777,995 shares, compared to its average volume of 928,377. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $12.36. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $2.27 billion, a P/E ratio of -14.15 and a beta of 1.43. The stock’s fifty day moving average price is $9.07 and its two-hundred day moving average price is $7.23.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The firm had revenue of $681.29 million for the quarter, compared to analysts’ expectations of $637.66 million. During the same period in the previous year, the company posted ($0.15) EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. Research analysts forecast that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Analysts Set New Price Targets

ALHC has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Finally, Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C grew its position in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after buying an additional 93,262 shares during the period. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 6.4% during the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after buying an additional 185,854 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after buying an additional 1,507,759 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after buying an additional 225,000 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.