Alignment Healthcare, Inc. (NASDAQ:ALHC) President Sells $420,359.49 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) President Dawn Christine Maroney sold 27,243 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $15.43, for a total transaction of $420,359.49. Following the completion of the transaction, the president now directly owns 2,276,732 shares of the company’s stock, valued at $35,129,974.76. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Dawn Christine Maroney also recently made the following trade(s):

• On Thursday, March 6th, Dawn Christine Maroney sold 278,917 shares of Alignment Healthcare stock. The shares were sold at an average price of $15.53, for a total transaction of $4,331,581.01.
• On Tuesday, February 18th, Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00.
• On Wednesday, January 15th, Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock. The shares were sold at an average price of $13.61, for a total transaction of $408,300.00.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded down $0.21 on Thursday, hitting $15.50. The company’s stock had a trading volume of 1,216,078 shares, compared to its average volume of 2,088,706. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -20.13 and a beta of 1.49. 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 fifty day moving average price of $14.22 and a 200-day moving average price of $12.34.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of Alignment Healthcare by 77.9% during 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. T. Rowe Price Investment Management Inc. lifted its holdings 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 in the last quarter. Millennium Management LLC grew its position in shares of Alignment Healthcare by 588.3% in the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock valued at $38,122,000 after purchasing an additional 2,896,311 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Alignment Healthcare during the fourth quarter worth about $20,087,000. Finally, Broad Bay Capital Management LP purchased a new stake in shares of Alignment Healthcare during the fourth quarter worth about $18,804,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Piper Sandler raised their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price target 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. Barclays raised their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Finally, Stephens reissued an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.