Alignment Healthcare (NASDAQ:ALHC) Insider Hyong Kim Sells 32,479 Shares of Company Stock

Key Points

• Insider sale: Alignment Healthcare insider Hyong Kim sold 32,479 shares at an average price of $8.30, totaling approximately $269,576. The transaction covered tax withholding obligations tied to vested equity awards and reduced his ownership by 9.79%.
• Stock performance: ALHC recently traded at $8.55, well below its 50-day and 200-day moving averages of $12.03 and $16.82, respectively. The stock has ranged from $7.37 to $25.12 over the past year.
• Financials and analyst view: The company exceeded quarterly earnings and revenue estimates, with revenue rising 31.6% year over year. Analysts maintain a consensus “Moderate Buy” rating and a $23.00 target price, although some firms recently lowered ratings or price targets.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Hyong Kim sold 32,479 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $8.30, for a total value of $269,575.70. Following the completion of the transaction, the insider directly owned 299,271 shares in the company, valued at approximately $2,483,949.30. This represents a 9.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded up $0.18 during mid-day trading on Wednesday, hitting $8.55. 6,562,403 shares of the company traded hands, compared to its average volume of 5,458,977. The stock's fifty day moving average price is $12.03 and its 200-day moving average price is $16.82. Alignment Healthcare, Inc. has a one year low of $7.37 and a one year high of $25.12. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 45.00 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business's revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Research analysts anticipate that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company's stock worth $33,000 after buying an additional 1,135 shares during the last quarter. Nykredit A S bought a new position in shares of Alignment Healthcare in the 2nd quarter valued at about $36,000. Signature Equity Partners LLC purchased a new position in Alignment Healthcare in the first quarter worth about $46,000. GAMMA Investing LLC grew its position in Alignment Healthcare by 46.6% in the second quarter. GAMMA Investing LLC now owns 3,368 shares of the company's stock worth $80,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Alignment Healthcare by 51,757.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,630 shares of the company's stock worth $72,000 after acquiring an additional 3,623 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ALHC shares. Barclays lowered their target price on shares of Alignment Healthcare from $16.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Zacks Research downgraded Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. TD Cowen reaffirmed a "buy" rating on shares of Alignment Healthcare in a research note on Wednesday, September 16th. Wall Street Zen cut Alignment Healthcare from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Raymond James Financial downgraded Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.

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