Insider Selling: Alignment Healthcare (NASDAQ:ALHC) CEO Sells 385,270 Shares

Key Points

• Alignment Healthcare CEO John Kao sold 385,270 shares for approximately $4.89 million at an average price of $12.68. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, reducing his direct ownership by 23.95%.
• ALHC shares fell 1.2% to $12.61, near the company’s 52-week low of $12.39, and remain below their 50-day and 200-day moving averages.
• The company reported better-than-expected quarterly results, including $0.17 in EPS and $1.34 billion in revenue, up 31.6% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $23.60.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) CEO John Kao sold 385,270 shares of Alignment Healthcare stock in a transaction on Friday, September 11th. The stock was sold at an average price of $12.68, for a total transaction of $4,885,223.60. Following the transaction, the chief executive officer directly owned 1,223,473 shares in the company, valued at approximately $15,513,637.64. This represents a 23.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Trading Down 1.2%

NASDAQ:ALHC traded down $0.15 on Friday, reaching $12.61. The company's stock had a trading volume of 6,075,652 shares, compared to its average volume of 3,839,666. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The business's 50-day moving average price is $16.17 and its two-hundred day moving average price is $18.03. Alignment Healthcare, Inc. has a 1-year low of $12.39 and a 1-year high of $25.12. The firm has a market cap of $2.62 billion, a PE ratio of 66.37 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALHC shares. Zacks Research lowered shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. TD Cowen reiterated a "buy" rating on shares of Alignment Healthcare in a report on Monday, August 3rd. Raymond James Financial downgraded Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. Barclays cut their price objective on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 26th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Alignment Healthcare in a report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $23.60.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of Alignment Healthcare by 92.6% in the first quarter. Royal Bank of Canada now owns 92,379 shares of the company's stock worth $1,720,000 after acquiring an additional 44,413 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alignment Healthcare by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company's stock valued at $1,109,000 after purchasing an additional 2,594 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Alignment Healthcare by 79.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company's stock valued at $18,112,000 after purchasing an additional 429,703 shares during the last quarter. Woodline Partners LP acquired a new position in Alignment Healthcare during the 1st quarter worth approximately $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Alignment Healthcare by 16.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company's stock worth $5,729,000 after purchasing an additional 44,452 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc NASDAQ: ALHC is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare's approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

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