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 stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,363,100 shares of the company’s stock, valued at $27,530,115. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Alignment Healthcare Stock Up 3.0 %

ALHC stock traded up $0.33 during trading on Friday, reaching $11.45. 1,376,437 shares of the company traded hands, compared to its average volume of 1,174,512. The business has a 50 day simple moving average of $11.97 and a 200 day simple moving average of $10.05. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -14.87 and a beta of 1.42.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. During the same quarter in the previous year, the firm earned ($0.19) EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALHC shares. KeyCorp began coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. UBS Group lifted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays raised their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Finally, Stephens upgraded Alignment Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $17.00 in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.44.

Institutional Trading of Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C increased its position in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after buying an additional 2,630,788 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Alignment Healthcare by 94.4% during 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 acquiring an additional 1,507,759 shares in the last quarter. Royce & Associates LP purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at approximately $3,782,000. Renaissance Technologies LLC boosted its stake in Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in Alignment Healthcare during the 2nd quarter valued at approximately $1,512,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.