Robert L. Scavo Sells 55,403 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 55,403 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $860,408.59. Following the transaction, the insider now directly owns 673,419 shares of the company’s stock, valued at $10,458,197.07. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alignment Healthcare Stock Down 3.5 %

Shares of NASDAQ:ALHC opened at $15.25 on Friday. The firm has a market capitalization of $2.93 billion, a PE ratio of -19.81 and a beta of 1.49. The business has a 50 day simple moving average of $13.89 and a two-hundred day simple moving average of $12.14. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $16.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Analyst Upgrades and Downgrades

ALHC has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday. Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Barclays increased their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Piper Sandler increased their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently bought and sold shares of the business. R Squared Ltd purchased a new stake in Alignment Healthcare in the fourth quarter worth $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $106,000. Tower Research Capital LLC TRC increased its stake in Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after buying an additional 6,286 shares during the period. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the 4th quarter valued at about $121,000. Finally, Aigen Investment Management LP purchased a new stake in Alignment Healthcare in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.