John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $15.36, for a total transaction of $1,382,400.00. Following the sale, the chief executive officer now owns 2,093,100 shares in the company, valued at $32,150,016. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $15.79 on Friday. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $16.25. The stock’s 50-day moving average price is $14.38 and its two-hundred day moving average price is $12.41. The company has a market cap of $3.03 billion, a PE ratio of -20.51 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in Alignment Healthcare by 149.8% during the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $958,000 after purchasing an additional 51,084 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Alignment Healthcare by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after buying an additional 36,151 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at $189,000. Squarepoint Ops LLC raised its position in Alignment Healthcare by 414.6% during the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after buying an additional 159,774 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in Alignment Healthcare in the 4th quarter worth about $258,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ALHC shares. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Alignment Healthcare Company Profile

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.