Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Sells 14,692 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 14,692 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $15.43, for a total transaction of $226,697.56. Following the completion of the sale, the chief financial officer now owns 1,402,862 shares of the company’s stock, valued at $21,646,160.66. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, March 6th, Robert Thomas Freeman sold 218,295 shares of Alignment Healthcare stock. The stock was sold at an average price of $15.53, for a total transaction of $3,390,121.35.
• On Tuesday, March 4th, Robert Thomas Freeman sold 250,000 shares of Alignment Healthcare stock. The stock was sold at an average price of $15.58, for a total transaction of $3,895,000.00.

Alignment Healthcare Trading Down 1.3 %

NASDAQ:ALHC traded down $0.21 during mid-day trading on Thursday, hitting $15.50. 1,216,078 shares of the stock traded hands, compared to its average volume of 2,088,706. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -20.13 and a beta of 1.49. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $16.25. The firm’s 50 day moving average is $14.22 and its two-hundred day moving average is $12.34. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Analysts Set New Price Targets

Several analysts have commented on ALHC shares. Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Bank of America raised their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in Alignment Healthcare by 149.8% during the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after purchasing an additional 51,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alignment Healthcare by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after purchasing an additional 36,151 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Alignment Healthcare during the 4th quarter valued at about $189,000. Squarepoint Ops LLC boosted its position in Alignment Healthcare by 414.6% in the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after buying an additional 159,774 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in Alignment Healthcare in the 4th quarter valued at about $258,000. 86.19% of the stock is currently owned by institutional investors.

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.