Alignment Healthcare (NASDAQ:ALHC) EVP Joseph Konowiecki Sells 4,930 Shares of Stock

Key Points

• EVP Joseph Konowiecki sold 4,930 shares at an average $7.20, worth $35,496, to cover tax withholding on vested equity awards. He retained 1,075,375 shares after the sale.
• Alignment Healthcare shares fell 2.5% to $7.50 in Thursday’s trading, near the company’s 52-week low of $6.01.
• The company’s latest quarter showed revenue up 36.7% year over year to $1.36 billion, while EPS of -$0.04 matched estimates. Analysts’ average rating was Hold, with a $14 average price target.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) EVP Joseph Konowiecki sold 4,930 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $7.20, for a total transaction of $35,496.00. Following the completion of the transaction, the executive vice president owned 1,075,375 shares of the company's stock, valued at approximately $7,742,700. This trade represents a 0.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Trading Down 2.5%

NASDAQ:ALHC traded down $0.19 during mid-day trading on Thursday, hitting $7.50. 3,664,841 shares of the company's stock were exchanged, compared to its average volume of 5,622,082. The company has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $16.22. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.17. Alignment Healthcare, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $25.12. The firm has a market capitalization of $1.57 billion, a P/E ratio of 57.70 and a beta of 1.07.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.31 billion. Alignment Healthcare had a net margin of 0.59% and a return on equity of 12.46%. The company's revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. As a group, research analysts expect that Alignment Healthcare, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALHC has been the subject of a number of recent research reports. Scotiabank set a $9.00 price objective on Alignment Healthcare in a report on Friday, October 9th. Barclays cut their target price on Alignment Healthcare from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Friday, October 30th. Piper Sandler reiterated an "overweight" rating and issued a $15.00 price target on shares of Alignment Healthcare in a research report on Friday, October 30th. Needham & Company LLC began coverage on Alignment Healthcare in a research note on Wednesday, October 28th. They issued a "hold" rating for the company. Finally, Raymond James Financial reissued an "outperform" rating on shares of Alignment Healthcare in a research note on Monday, October 12th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.00.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Alignment Healthcare by 9.8% during the second quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company's stock worth $447,160,000 after buying an additional 1,681,427 shares during the period. William Blair Investment Management LLC acquired a new position in Alignment Healthcare in the second quarter valued at $184,799,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in Alignment Healthcare in the second quarter valued at $87,794,000. Bank of New York Mellon Corp bought a new stake in Alignment Healthcare during the second quarter valued at $87,077,000. Finally, Bank of America Corp DE boosted its position in Alignment Healthcare by 156.5% during the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company's stock valued at $56,660,000 after acquiring an additional 1,961,778 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc. is a technology-enabled healthcare company focused primarily on serving older adults through Medicare Advantage plans. Its health plans, offered under the Alignment Health Plan name, combine insurance coverage with care coordination and support intended to address members' medical and everyday health needs. The company uses a care model that includes personalized care teams, member support and technology to help coordinate services across providers. Its Medicare Advantage offerings include plan options such as HMO and PPO products, with availability and benefits varying by location.

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