Christopher J. Joyce Sells 25,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $389,500.00. Following the transaction, the insider now owns 397,845 shares in the company, valued at $6,198,425.10. This represents a 5.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Alignment Healthcare Price Performance

ALHC stock opened at $14.89 on Friday. The business has a fifty day moving average of $13.89 and a two-hundred day moving average of $12.14. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -19.34 and a beta of 1.49. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $16.25.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning increased its stake in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alignment Healthcare by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after acquiring an additional 2,154 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after buying an additional 2,937 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after buying an additional 3,256 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after buying an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

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 research report on Friday, February 28th. Stifel Nicolaus increased their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Bank of America increased their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.