John E. Kao Sells 27,535 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 27,535 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total value of $465,066.15. Following the completion of the sale, the chief executive officer now owns 4,991,717 shares of the company’s stock, valued at approximately $84,310,100.13. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $17.18 on Friday. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $17.38. The company’s 50 day moving average price is $14.79 and its two-hundred day moving average price is $12.63. 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 stock has a market cap of $3.30 billion, a P/E ratio of -22.31 and a beta of 1.49.

Analysts Set New Price Targets

ALHC has been the subject of several research reports. Barclays raised their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Piper Sandler lifted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Alignment Healthcare by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after buying an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the period. Wellington Management Group LLP raised its holdings in shares of Alignment Healthcare by 77.9% in the 4th 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. Hood River Capital Management LLC raised its holdings in shares of Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after purchasing an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC raised its holdings in shares of Alignment Healthcare by 49.5% in the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,211,727 shares during the period. Institutional investors own 86.19% of the company’s stock.

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.