Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells 25,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the transaction, the insider now owns 415,022 shares of the company’s stock, valued at approximately $7,665,456.34. This trade represents a 5.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Alignment Healthcare Stock Down 1.3 %

NASDAQ ALHC traded down $0.23 on Wednesday, hitting $17.85. 3,008,337 shares of the company were exchanged, compared to its average volume of 1,520,626. 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 company has a market cap of $3.42 billion, a PE ratio of -23.18 and a beta of 1.49. The stock has a fifty day moving average of $15.43 and a 200-day moving average of $13.11. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $18.92.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ALHC shares. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Stifel Nicolaus lifted their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Piper Sandler increased their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. Wellington Management Group LLP increased its holdings in shares of Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 149.8% during the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after buying an additional 51,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Alignment Healthcare by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after acquiring an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Alignment Healthcare in the 4th quarter worth about $189,000. Finally, Squarepoint Ops LLC lifted 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 acquiring an additional 159,774 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

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.