Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $51,236.96 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $51,236.96. Following the completion of the transaction, the insider now directly owns 702,953 shares in the company, valued at approximately $12,575,829.17. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $18.30 on Friday. The firm has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $13.00. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $18.44. The company has a market capitalization of $3.51 billion, a PE ratio of -23.77 and a beta of 1.49. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ALHC shares. Bank of America upped their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd purchased a new position in Alignment Healthcare in the 4th quarter worth approximately $55,000. RiverPark Advisors LLC bought a new stake in Alignment Healthcare during the 4th quarter valued at $106,000. Tower Research Capital LLC TRC boosted its position in Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares during the period. Ballentine Partners LLC bought a new stake in Alignment Healthcare in the 4th quarter worth $121,000. Finally, Aigen Investment Management LP bought a new position in shares of Alignment Healthcare during the fourth quarter valued at about $129,000. Institutional investors own 86.19% of the company’s stock.

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.