Christopher J. Joyce Sells 16,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the sale, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alignment Healthcare Price Performance

ALHC stock opened at $7.55 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $9.20. The stock has a market cap of $1.44 billion, a PE ratio of -8.99 and a beta of 1.43. The firm has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $6.69.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The company had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. During the same period in the prior year, the firm earned ($0.20) EPS. Alignment Healthcare’s quarterly revenue was up 43.1% on a year-over-year basis. On average, analysts predict that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in shares of Alignment Healthcare by 49.1% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock valued at $19,064,000 after purchasing an additional 905,015 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alignment Healthcare by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alignment Healthcare by 283.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after purchasing an additional 233,417 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Alignment Healthcare in the 1st quarter valued at $918,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALHC shares. Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays initiated coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective for the company. Robert W. Baird initiated coverage on shares of Alignment Healthcare in a research note on Thursday, May 30th. They set an “outperform” rating and a $10.00 price objective for the company. UBS Group reduced their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus reduced their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.20.

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.