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Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $248,010.91 in Stock

Alignment Healthcare logo with Medical background

Key Points

  • Insider Christopher J. Joyce sold 15,491 shares of Alignment Healthcare, resulting in a transaction worth $248,010.91, decreasing his stake by 3.97% to 374,531 shares.
  • Alignment Healthcare's stock declined 5.9% to $12.97, with analysts noting its twelve-month high of $21.06 and low of $7.92.
  • The company reported $1.02 billion in revenue for the last quarter, exceeding expectations, and posted a quarterly earnings per share of $0.07, reversing last year's loss.
  • MarketBeat previews top five stocks to own in September.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Christopher J. Joyce sold 15,491 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $16.01, for a total value of $248,010.91. Following the completion of the transaction, the insider directly owned 374,531 shares in the company, valued at approximately $5,996,241.31. This trade represents a 3.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alignment Healthcare Stock Down 5.9%

Alignment Healthcare stock traded down $0.81 during mid-day trading on Friday, reaching $12.97. 3,566,563 shares of the company were exchanged, compared to its average volume of 3,659,441. Alignment Healthcare, Inc. has a twelve month low of $7.92 and a twelve month high of $21.06. The firm's 50-day simple moving average is $13.92 and its two-hundred day simple moving average is $15.33. The company has a quick ratio of 1.69, a current ratio of 1.66 and a debt-to-equity ratio of 2.29.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.14. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $960.25 million. Alignment Healthcare had a negative return on equity of 43.68% and a negative net margin of 1.53%. The company's quarterly revenue was up 49.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. Research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stephens raised Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. UBS Group boosted their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Robert W. Baird boosted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Barclays upgraded Alignment Healthcare from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $9.00 to $13.00 in a report on Thursday. Finally, Stifel Nicolaus upped their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $17.61.

Read Our Latest Stock Analysis on Alignment Healthcare

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after acquiring an additional 616 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Alignment Healthcare by 8.6% during the first quarter. Ballentine Partners LLC now owns 11,674 shares of the company's stock worth $217,000 after purchasing an additional 924 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Alignment Healthcare by 87.6% during the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after purchasing an additional 1,011 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of Alignment Healthcare by 0.6% during the first quarter. Cresset Asset Management LLC now owns 287,565 shares of the company's stock worth $5,354,000 after purchasing an additional 1,797 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 purchasing an additional 2,154 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Alignment Healthcare (NASDAQ:ALHC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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