John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the sale, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at $28,813,323. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alignment Healthcare Stock Up 1.2 %

ALHC stock opened at $11.45 on Friday. The business has a 50-day moving average of $10.03 and a 200-day moving average of $8.13. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $12.36. The stock has a market capitalization of $2.19 billion, a P/E ratio of -13.96 and a beta of 1.47. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61.

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. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. The business’s revenue was up 47.3% on a year-over-year basis. On average, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. Virtu Financial LLC bought a new position in shares of Alignment Healthcare in the 1st quarter valued at about $57,000. Principal Financial Group Inc. acquired a new position in Alignment Healthcare during the first quarter valued at approximately $57,000. Creative Planning grew its stake in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after purchasing an additional 2,072 shares in the last quarter. Mackenzie Financial Corp grew its stake in Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after purchasing an additional 19,129 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Alignment Healthcare by 9.2% during the 1st 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. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ALHC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Robert W. Baird upped their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Barclays lifted their price target 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. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, KeyCorp assumed coverage on Alignment Healthcare in a research note on Friday. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $9.83.

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.