Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $125,164.80 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 7,632 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $125,164.80. Following the completion of the transaction, the insider now owns 223,474 shares of the company’s stock, valued at approximately $3,664,973.60. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Alignment Healthcare Trading Up 2.5 %

Shares of ALHC stock opened at $17.61 on Friday. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $17.76. 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 business’s 50 day moving average is $14.90 and its two-hundred day moving average is $12.69. The company has a market capitalization of $3.38 billion, a P/E ratio of -22.87 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALHC shares. Bank of America boosted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stifel Nicolaus raised their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. boosted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake 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 acquiring an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Alignment Healthcare by 54.7% during the fourth 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 in the last quarter. Millennium Management LLC lifted its position in Alignment Healthcare by 588.3% in the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock valued at $38,122,000 after purchasing an additional 2,896,311 shares during the period. Point72 Asset Management L.P. purchased a new stake in Alignment Healthcare in the 4th quarter valued at approximately $20,087,000. Finally, Broad Bay Capital Management LP acquired a new position in Alignment Healthcare during the 4th quarter worth approximately $18,804,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.