Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Sells $120,650.16 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 6,744 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $120,650.16. Following the completion of the sale, the chief financial officer now directly owns 1,464,419 shares of the company’s stock, valued at $26,198,455.91. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Robert Thomas Freeman also recently made the following trade(s):

• On Tuesday, March 18th, Robert Thomas Freeman sold 13,815 shares of Alignment Healthcare stock. The shares were sold at an average price of $16.89, for a total value of $233,335.35.
• On Wednesday, March 12th, Robert Thomas Freeman sold 14,692 shares of Alignment Healthcare stock. The shares were sold at an average price of $15.43, for a total transaction of $226,697.56.
• On Thursday, March 6th, Robert Thomas Freeman sold 218,295 shares of Alignment Healthcare stock. The stock was sold at an average price of $15.53, for a total transaction of $3,390,121.35.
• On Tuesday, March 4th, Robert Thomas Freeman sold 250,000 shares of Alignment Healthcare stock. The shares were sold at an average price of $15.58, for a total transaction of $3,895,000.00.

Alignment Healthcare Stock Up 0.9 %

NASDAQ ALHC traded up $0.17 during trading on Friday, reaching $18.30. 1,599,660 shares of the company’s stock traded hands, compared to its average volume of 1,491,362. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $18.60. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49. The company’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $12.97.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus raised their price objective 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. JPMorgan Chase & Co. raised their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Bank of America upped their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Alignment Healthcare during the 3rd quarter valued at $131,000. Intech Investment Management LLC purchased a new stake in shares of Alignment Healthcare during the 3rd quarter worth $315,000. Charles Schwab Investment Management Inc. boosted its position in Alignment Healthcare by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after purchasing an additional 13,865 shares in the last quarter. Algert Global LLC grew its stake in Alignment Healthcare by 44.8% in the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock valued at $956,000 after purchasing an additional 25,050 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.