Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,382,400.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $15.36, for a total transaction of $1,382,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,093,100 shares in the company, valued at $32,150,016. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alignment Healthcare Stock Performance

ALHC stock traded down $0.21 during trading on Thursday, reaching $15.50. 1,216,078 shares of the stock were exchanged, compared to its average volume of 2,088,706. The company has a market capitalization of $2.97 billion, a P/E ratio of -20.13 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a 50 day simple moving average of $14.22 and a 200-day simple moving average of $12.34. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $16.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alignment Healthcare by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after acquiring an additional 2,154 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after acquiring an additional 2,937 shares during the period. MetLife Investment Management LLC increased its holdings in Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after buying an additional 3,256 shares during the period. Alliancebernstein L.P. grew its position in Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Alignment Healthcare by 15.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock valued at $388,000 after acquiring an additional 4,497 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Ratings Changes

ALHC has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.83.

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.