Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,048,500.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the completion of the sale, the chief executive officer now owns 2,363,100 shares in the company, valued at $27,530,115. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $11.45 on Monday. 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 stock’s fifty day moving average is $11.98 and its two-hundred day moving average is $10.12. The firm has a market capitalization of $2.19 billion, a P/E ratio of -14.87 and a beta of 1.42. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) EPS. On average, research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. KeyCorp started coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Barclays raised their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Stephens raised shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $17.00 in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $11.44.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds have recently modified their holdings of ALHC. Deerfield Management Company L.P. Series C raised its position in Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after purchasing an additional 2,630,788 shares during the period. William Blair Investment Management LLC grew its stake in shares of Alignment Healthcare by 94.4% in the second 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 in the last quarter. Royce & Associates LP purchased a new stake in shares of Alignment Healthcare in the 3rd quarter valued at $3,782,000. Renaissance Technologies LLC lifted its stake in Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after acquiring an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in Alignment Healthcare during the 2nd quarter valued at about $1,512,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.