Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $247,733.80 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hyong Kim sold 22,460 shares of Alignment Healthcare stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total value of $247,733.80. Following the sale, the insider now directly owns 533,070 shares of the company’s stock, valued at approximately $5,879,762.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Alignment Healthcare Stock Up 1.2 %

ALHC opened at $11.45 on Friday. The company has a market cap of $2.19 billion, a PE ratio of -13.96 and a beta of 1.47. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $12.36. The company has a 50-day moving average price of $10.03 and a 200 day moving average price of $8.13. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. During the same quarter last year, the business posted ($0.15) earnings per share. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. Sell-side analysts expect that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several recent research reports. Barclays upped their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Stifel Nicolaus upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird lifted their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. TD Cowen increased their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, KeyCorp started coverage on shares of Alignment Healthcare in a report on Friday. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.83.

Institutional Investors Weigh In On Alignment Healthcare

A number of large investors have recently modified their holdings of the business. Deerfield Management Company L.P. Series C lifted its stake in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after buying an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after purchasing an additional 93,262 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after purchasing an additional 185,854 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after buying an additional 225,000 shares in the last quarter. Hedge funds and other 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.