Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $125,164.80 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 7,632 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $125,164.80. Following the transaction, the insider now directly owns 223,474 shares in the company, valued at approximately $3,664,973.60. This represents a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC traded up $0.45 during midday trading on Wednesday, reaching $17.19. The company’s stock had a trading volume of 2,791,742 shares, compared to its average volume of 1,412,390. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $17.41. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a 50 day moving average price of $14.68 and a 200-day moving average price of $12.59. The stock has a market capitalization of $3.30 billion, a P/E ratio of -22.32 and a beta of 1.49.

Hedge Funds Weigh In On Alignment Healthcare

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

Analysts Set New Price Targets

ALHC has been the topic of a number of research reports. Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research 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 upped their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Finally, Barclays increased their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.