Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Robert L. Scavo Sells 60,000 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Robert L. Scavo sold 60,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.60, for a total value of $876,000.00. Following the completion of the sale, the insider now directly owns 642,953 shares in the company, valued at approximately $9,387,113.80. The trade was a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alignment Healthcare Trading Down 0.9%

Shares of NASDAQ ALHC traded down $0.14 during trading on Friday, hitting $14.94. 1,581,551 shares of the company traded hands, compared to its average volume of 2,044,923. Alignment Healthcare, Inc. has a 1 year low of $7.05 and a 1 year high of $21.06. The company has a 50-day moving average price of $16.37 and a 200-day moving average price of $14.90. The firm has a market capitalization of $2.96 billion, a P/E ratio of -19.40 and a beta of 1.22. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. The company had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company's revenue was up 47.5% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after purchasing an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock worth $97,302,000 after purchasing an additional 3,059,596 shares in the last quarter. Millennium Management LLC grew its position in Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock worth $38,122,000 after purchasing an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Alignment Healthcare during the 4th quarter worth approximately $20,087,000. Finally, Invesco Ltd. grew its position in Alignment Healthcare by 1,415.7% during the 1st quarter. Invesco Ltd. now owns 1,875,790 shares of the company's stock worth $34,927,000 after purchasing an additional 1,752,033 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALHC shares. Robert W. Baird boosted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Bank of America boosted their target price on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Piper Sandler boosted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alignment Healthcare has a consensus rating of "Moderate Buy" and an average price target of $17.17.

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.