Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,382,400.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $15.36, for a total value of $1,382,400.00. Following the transaction, the chief executive officer now owns 2,093,100 shares of the company’s stock, valued at approximately $32,150,016. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Alignment Healthcare Trading Up 1.9 %

Shares of NASDAQ:ALHC opened at $15.79 on Friday. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $16.25. The company has a market capitalization of $3.03 billion, a P/E ratio of -20.51 and a beta of 1.49. The company has a 50-day simple moving average of $14.38 and a 200 day simple moving average of $12.43. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Analyst Ratings Changes

A number of research firms have issued reports on ALHC. Barclays increased their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Bank of America raised their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently bought and sold shares of ALHC. Mackenzie Financial Corp lifted its position in Alignment Healthcare by 149.8% during the fourth 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alignment Healthcare by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after acquiring an additional 36,151 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Alignment Healthcare during the fourth quarter worth approximately $189,000. Squarepoint Ops LLC lifted its position in Alignment Healthcare by 414.6% during the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after acquiring an additional 159,774 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Alignment Healthcare during the fourth quarter worth approximately $258,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.