Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $51,236.96 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares in the company, valued at $12,575,829.17. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alignment Healthcare Stock Up 0.9 %

ALHC stock opened at $18.30 on Monday. The business’s 50-day simple moving average is $15.28 and its 200 day simple moving average is $13.01. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market cap of $3.51 billion, a PE ratio of -23.77 and a beta of 1.49. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $18.44.

Analysts Set New Price Targets

Several analysts have recently issued reports on ALHC shares. JPMorgan Chase & Co. upped their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Piper Sandler lifted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Bank of America upped their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Barclays lifted their target price 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. One 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. Based on data from MarketBeat.com, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Alignment Healthcare by 149.8% during the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $958,000 after acquiring an additional 51,084 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Alignment Healthcare by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after acquiring an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Alignment Healthcare in the fourth quarter valued at about $189,000. Finally, Squarepoint Ops LLC raised its position in Alignment Healthcare by 414.6% in the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after purchasing an additional 159,774 shares in the last quarter. 86.19% of the stock is currently owned by 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.