Robert Thomas Freeman Sells 1,650 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 1,650 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $10.00, for a total transaction of $16,500.00. Following the transaction, the chief financial officer now directly owns 412,779 shares of the company’s stock, valued at $4,127,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 Trading Down 3.5 %

Shares of ALHC opened at $9.50 on Friday. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year 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 firm has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $7.13. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -11.31 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $681.29 million during the quarter, compared to analysts’ expectations of $637.66 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business’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 firm posted ($0.15) earnings per share. Equities analysts forecast that Alignment Healthcare, Inc. will post -0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALHC has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen increased their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Barclays increased their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Finally, Baird R W raised Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently modified their holdings of ALHC. Victory Capital Management Inc. lifted its stake in shares of Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after buying an additional 1,962 shares during the period. Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after acquiring an additional 2,077 shares during the last quarter. Aigen Investment Management LP lifted its stake in shares of Alignment Healthcare by 18.5% during 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 period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of 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. 86.19% of the stock is owned by institutional investors and hedge funds.

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.