Sebastian Burzacchi Sells 6,694 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 6,694 shares of Alignment Healthcare stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $109,781.60. Following the completion of the sale, the chief operating officer now directly owns 250,378 shares of the company’s stock, valued at approximately $4,106,199.20. This represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC traded up $0.45 during trading on Wednesday, hitting $17.19. 2,791,742 shares of the company traded hands, compared to its average volume of 1,412,390. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $17.41. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -22.32 and a beta of 1.49. The business’s fifty day moving average is $14.68 and its 200-day moving average is $12.59. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Analysts Set New Price Targets

ALHC has been the subject of a number of research reports. 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 research report on Tuesday, March 4th. 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. Stifel Nicolaus boosted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Verition Fund Management LLC grew its holdings in Alignment Healthcare by 85.3% in the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after buying an additional 55,771 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after buying an additional 205,705 shares in the last quarter. Principal Financial Group Inc. lifted its position in Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after purchasing an additional 180,522 shares during the period. The Manufacturers Life Insurance Company lifted its position in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares during the period. Finally, Barclays PLC lifted its position in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after purchasing an additional 114,191 shares during the period. 86.19% of the stock is owned by 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.