Insider Selling: Alignment Healthcare (NASDAQ:ALHC) CEO Sells $6,067,280.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 298,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $20.36, for a total value of $6,067,280.00. Following the transaction, the chief executive officer owned 1,386,766 shares in the company, valued at $28,234,555.76. This represents a 17.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $19.78 on Tuesday. The company has a market capitalization of $4.09 billion, a P/E ratio of 219.78, a P/E/G ratio of 2.67 and a beta of 1.14. The business’s 50 day moving average is $18.55 and its two-hundred day moving average is $19.42. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 12-month low of $11.63 and a 12-month high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.Alignment Healthcare’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Analysts expect that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of Alignment Healthcare by 156.5% in the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after purchasing an additional 1,961,778 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Alignment Healthcare in the first quarter valued at approximately $4,852,000. California State Teachers Retirement System increased its holdings in shares of Alignment Healthcare by 25.4% in the first quarter. California State Teachers Retirement System now owns 198,200 shares of the company’s stock valued at $3,492,000 after purchasing an additional 40,135 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Alignment Healthcare by 442.2% in the first quarter. Quantinno Capital Management LP now owns 89,387 shares of the company’s stock valued at $1,575,000 after purchasing an additional 72,900 shares during the last quarter. Finally, Orbimed Advisors LLC acquired a new stake in shares of Alignment Healthcare in the first quarter valued at approximately $13,937,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of research analyst reports. Zacks Research raised Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Barclays reduced their target price on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Finally, Wolfe Research initiated coverage on Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.30.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.