Christopher J. Joyce Sells 1,300 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 1,300 shares of Alignment Healthcare stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $10.00, for a total value of $13,000.00. Following the completion of the sale, the insider now directly owns 404,279 shares of the company’s stock, valued at approximately $4,042,790. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $9.50 on Friday. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $10.16. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -11.31 and a beta of 1.43. The firm’s fifty day moving average price is $8.89 and its 200 day moving average price is $7.13.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. On average, research analysts forecast that Alignment Healthcare, Inc. will post -0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

ALHC has been the subject of several recent analyst reports. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.75 to $11.00 in a report on Thursday, May 30th. Barclays increased their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Robert W. Baird raised their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Virtu Financial LLC acquired a new stake in shares of Alignment Healthcare during the first quarter worth approximately $57,000. Principal Financial Group Inc. bought a new position in Alignment Healthcare during the 1st quarter valued at $57,000. Victory Capital Management Inc. grew its holdings in Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after acquiring an additional 1,962 shares in the last quarter. Aigen Investment Management LP increased its position in shares of Alignment Healthcare by 18.5% in the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.