Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells 34,430 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 34,430 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $615,952.70. Following the sale, the chief executive officer now owns 4,923,186 shares of the company’s stock, valued at $88,075,797.54. This trade represents a 0.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Alignment Healthcare Stock Up 0.9 %

Shares of NASDAQ:ALHC traded up $0.17 during trading on Friday, reaching $18.30. 1,599,660 shares of the company traded hands, compared to its average volume of 1,491,362. 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, Inc. has a 1-year low of $4.46 and a 1-year high of $18.60. The firm has a fifty day simple moving average of $15.28 and a 200 day simple moving average of $12.97. The firm has a market cap of $3.51 billion, a P/E ratio of -23.77 and a beta of 1.49.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Barclays raised their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALHC. R Squared Ltd bought a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC bought a new position in Alignment Healthcare during the fourth quarter valued at approximately $106,000. Tower Research Capital LLC TRC lifted its stake in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare in the fourth quarter worth approximately $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the 4th quarter worth $129,000. 86.19% of the stock is owned by institutional investors and hedge funds.

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.