Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells 7,632 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 7,632 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $125,164.80. Following the sale, the insider now directly owns 223,474 shares in the company, valued at $3,664,973.60. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Alignment Healthcare Stock Down 0.1 %

Alignment Healthcare stock opened at $17.18 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $17.38. The company has a market cap of $3.30 billion, a PE ratio of -22.31 and a beta of 1.49. The stock’s 50 day moving average price is $14.79 and its 200 day moving average price is $12.63.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised 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. Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Finally, Bank of America lifted their target price 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 issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after buying an additional 2,154 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after acquiring an additional 2,937 shares during the period. MetLife Investment Management LLC increased its stake in Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after purchasing an additional 3,256 shares in the last quarter. Alliancebernstein L.P. increased its stake in Alignment Healthcare by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Alignment Healthcare by 15.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock worth $388,000 after purchasing an additional 4,497 shares during 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.