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 business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $13.42, for a total value of $1,207,800.00. Following the completion of the sale, the chief executive officer now owns 2,453,100 shares of the company’s stock, valued at approximately $32,920,602. This represents a 3.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alignment Healthcare Stock Down 10.5 %

ALHC opened at $11.49 on Friday. The firm has a market cap of $2.20 billion, a P/E ratio of -14.92 and a beta of 1.45. The business’s fifty day simple moving average is $11.59 and its 200 day simple moving average is $9.35. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $14.25. 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 (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Barclays PLC increased its stake in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Alignment Healthcare during the 3rd quarter valued at about $523,000. State Street Corp lifted its holdings in shares of Alignment Healthcare by 0.9% during the 3rd quarter. State Street Corp now owns 2,252,287 shares of the company’s stock worth $26,622,000 after acquiring an additional 20,731 shares during the period. Atom Investors LP acquired a new stake in shares of Alignment Healthcare in the third quarter worth approximately $961,000. Finally, PDT Partners LLC grew its holdings in Alignment Healthcare by 14.3% in the third quarter. PDT Partners LLC now owns 125,532 shares of the company’s stock valued at $1,484,000 after purchasing an additional 15,726 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALHC. Barclays raised their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

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.