John E. Kao Sells 34,430 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 34,430 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $615,952.70. Following the completion of the transaction, the chief executive officer now owns 4,923,186 shares in the company, valued at $88,075,797.54. This represents a 0.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alignment Healthcare Trading Up 0.9 %

NASDAQ:ALHC opened at $18.30 on Friday. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $18.44. The firm has a market cap of $3.51 billion, a PE ratio of -23.77 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a fifty day moving average price of $15.28 and a 200 day moving average price of $12.97.

Analysts Set New Price Targets

A number of research firms have commented on ALHC. JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Stephens reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Barclays upped their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after acquiring an additional 2,154 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after purchasing an additional 2,937 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Alignment Healthcare by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock worth $690,000 after purchasing an additional 3,256 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after buying an additional 3,300 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock valued at $388,000 after buying an additional 4,497 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.