Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Joseph S. Konowiecki Sells 6,920 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Joseph S. Konowiecki sold 6,920 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $13.73, for a total value of $95,011.60. Following the transaction, the director now directly owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Alignment Healthcare Price Performance

ALHC opened at $12.83 on Friday. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -16.66 and a beta of 1.45. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $14.25. 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 $11.55 and a 200 day moving average price of $9.31.

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

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the third quarter worth about $95,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alignment Healthcare during the third quarter valued at about $131,000. Virtu Financial LLC bought a new position in Alignment Healthcare during the first quarter valued at about $57,000. Creative Planning increased its stake in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after acquiring an additional 2,077 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. TD Cowen lifted their target price on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

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.