John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $15.27, for a total value of $1,374,300.00. Following the sale, the chief executive officer now directly owns 1,823,100 shares of the company’s stock, valued at approximately $27,838,737. This represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alignment Healthcare Price Performance

ALHC opened at $15.08 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 12-month low of $7.05 and a 12-month high of $21.06. The stock has a fifty day moving average of $16.45 and a 200-day moving average of $14.88. The firm has a market capitalization of $2.98 billion, a P/E ratio of -19.58 and a beta of 1.22.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $926.93 million during the quarter, compared to analyst estimates of $889.83 million. During the same period last year, the company earned ($0.25) earnings per share. Alignment Healthcare’s quarterly revenue was up 47.5% compared to the same quarter last year. Equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Alignment Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Alignment Healthcare by 13.2% during the first quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company’s stock worth $206,941,000 after acquiring an additional 1,295,825 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Alignment Healthcare by 5.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 9,078,113 shares of the company’s stock worth $169,035,000 after acquiring an additional 429,071 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Alignment Healthcare by 0.9% during the first quarter. Wellington Management Group LLP now owns 7,509,057 shares of the company’s stock worth $139,819,000 after acquiring an additional 70,557 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Alignment Healthcare by 39.6% during the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after acquiring an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC raised its holdings in shares of Alignment Healthcare by 28.9% during the first quarter. 8 Knots Management LLC now owns 4,715,472 shares of the company’s stock worth $87,802,000 after acquiring an additional 1,056,777 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALHC has been the subject of several research reports. UBS Group raised their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Robert W. Baird raised their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Finally, Stephens raised Alignment Healthcare to a “strong-buy” rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.17.

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.