Insider Selling: Alignment Healthcare (NASDAQ:ALHC) EVP Sells $600,000.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) EVP Joseph Konowiecki sold 25,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total transaction of $600,000.00. Following the sale, the executive vice president owned 1,103,816 shares of the company’s stock, valued at approximately $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Stock Performance

ALHC stock opened at $23.80 on Friday. The firm has a market cap of $4.92 billion, a PE ratio of 264.44, a price-to-earnings-growth ratio of 3.21 and a beta of 1.05. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average price of $19.02 and a 200-day moving average price of $19.73. Alignment Healthcare, Inc. has a 1-year low of $11.63 and a 1-year high of $24.30.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALHC. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Barclays dropped their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Wolfe Research assumed coverage on shares of Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 target price on the stock. Zacks Research upgraded shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings raised shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.30.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Alignment Healthcare by 92.6% during the first quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock worth $1,720,000 after purchasing an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alignment Healthcare by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after purchasing an additional 2,594 shares during the period. Goldman Sachs Group Inc. grew its position in Alignment Healthcare by 79.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock valued at $18,112,000 after purchasing an additional 429,703 shares during the period. Woodline Partners LP bought a new stake in Alignment Healthcare during the 1st quarter valued at $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alignment Healthcare by 16.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock valued at $5,729,000 after purchasing an additional 44,452 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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.