Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Sells $85,695.61 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 8,561 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total value of $85,695.61. Following the sale, the chief financial officer now directly owns 399,429 shares of the company’s stock, valued at $3,998,284.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Robert Thomas Freeman also recently made the following trade(s):

• On Friday, September 13th, Robert Thomas Freeman sold 14,500 shares of Alignment Healthcare stock. The stock was sold at an average price of $12.00, for a total transaction of $174,000.00.
• On Wednesday, September 4th, Robert Thomas Freeman sold 1,650 shares of Alignment Healthcare stock. The shares were sold at an average price of $10.00, for a total transaction of $16,500.00.
• On Friday, July 19th, Robert Thomas Freeman sold 38,858 shares of Alignment Healthcare stock. The stock was sold at an average price of $10.01, for a total value of $388,968.58.
• On Wednesday, July 17th, Robert Thomas Freeman sold 22,100 shares of Alignment Healthcare stock. The shares were sold at an average price of $10.00, for a total value of $221,000.00.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $11.89 on Monday. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $12.36. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -14.15 and a beta of 1.43. The company’s 50-day moving average is $9.15 and its two-hundred day moving average is $7.29. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Research analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

Hedge Funds Weigh In On Alignment Healthcare

Several large investors have recently added to or reduced their stakes in ALHC. Mackenzie Financial Corp grew its holdings in Alignment Healthcare by 110.0% in the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after buying an additional 19,129 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Alignment Healthcare by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after purchasing an additional 9,595 shares during the period. Deerfield Management Company L.P. Series C increased its position in Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. AQR Capital Management LLC purchased a new position in Alignment Healthcare during the second quarter worth approximately $1,512,000. Finally, Hood River Capital Management LLC boosted its holdings in shares of Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after purchasing an additional 185,854 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays upped their price target on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Bank of America raised Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Robert W. Baird lifted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

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.