Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 3.5% Following Insider Selling

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s share price fell 3.5% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $14.26 and last traded at $14.41. 877,206 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 2,044,945 shares. The stock had previously closed at $14.94.

Specifically, insider Andreas P. Wagner sold 19,399 shares of Alignment Healthcare stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $15.26, for a total value of $296,028.74. Following the completion of the transaction, the insider now directly owns 204,075 shares of the company's stock, valued at $3,114,184.50. The trade was a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $15.27, for a total transaction of $1,374,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,823,100 shares in the company, valued at approximately $27,838,737. This represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Robert L. Scavo sold 40,863 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $15.20, for a total value of $621,117.60. Following the completion of the sale, the insider now directly owns 602,090 shares of the company's stock, valued at $9,151,768. The trade was a 6.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

ALHC has been the topic of a number of research analyst reports. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. 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 research note on Tuesday, April 15th. Piper Sandler increased their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Finally, UBS Group lifted their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.17.

Alignment Healthcare Trading Down 4.5%

The stock has a market capitalization of $2.82 billion, a PE ratio of -18.55 and a beta of 1.22. The business's 50-day moving average is $16.37 and its two-hundred day moving average is $14.93. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. During the same period in the prior year, the company posted ($0.25) EPS. The business's revenue for the quarter was up 47.5% on a year-over-year basis. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in ALHC. Wellington Management Group LLP raised its stake in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after purchasing an additional 3,059,596 shares during the period. Millennium Management LLC boosted its holdings in Alignment Healthcare by 588.3% in the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock worth $38,122,000 after acquiring an additional 2,896,311 shares during the period. Point72 Asset Management L.P. purchased a new stake in Alignment Healthcare during the 4th quarter worth $20,087,000. Finally, Invesco Ltd. boosted its holdings in Alignment Healthcare by 1,415.7% in the first quarter. Invesco Ltd. now owns 1,875,790 shares of the company's stock valued at $34,927,000 after purchasing an additional 1,752,033 shares during the last quarter. 86.19% of the stock is currently 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.

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