Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells 90,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $14.48, for a total transaction of $1,303,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,733,100 shares of the company’s stock, valued at $25,095,288. This trade represents a 4.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC opened at $14.57 on Wednesday. Alignment Healthcare, Inc. has a 12 month low of $7.05 and a 12 month high of $21.06. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.95. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -30.35 and a beta of 1.22. The company has a 50 day simple moving average of $16.20 and a two-hundred day simple moving average of $14.94.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The company had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same quarter last year, the firm posted ($0.25) EPS. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. As a group, analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in ALHC. MCF Advisors LLC raised its position in Alignment Healthcare by 87.6% during the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company’s stock worth $40,000 after buying an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Alignment Healthcare in the first quarter valued at approximately $42,000. Amalgamated Bank raised its holdings in shares of Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company’s stock worth $65,000 after acquiring an additional 616 shares during the last quarter. RiverPark Advisors LLC acquired a new position in Alignment Healthcare in the 4th quarter valued at about $106,000. Finally, Tower Research Capital LLC TRC boosted its position in Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analysts Set New Price Targets

ALHC has been the topic of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stephens raised Alignment Healthcare to a “strong-buy” rating in a report on Monday, June 2nd. Bank of America raised their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Finally, UBS Group increased their target price on Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.17.

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.