Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sells $109,781.60 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 6,694 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $109,781.60. Following the sale, the chief operating officer now owns 250,378 shares in the company, valued at approximately $4,106,199.20. The trade was a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alignment Healthcare Trading Up 2.5 %

ALHC opened at $17.61 on Friday. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $17.76. The firm has a market capitalization of $3.38 billion, a PE ratio of -22.87 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company’s 50-day moving average is $14.90 and its 200 day moving average is $12.69.

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Alignment Healthcare by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock valued at $110,453,000 after buying an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after acquiring an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Alignment Healthcare by 39.6% in the 4th 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 49.5% in the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after purchasing an additional 1,211,727 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stifel Nicolaus raised their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.