John Kao Sells 172,600 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock

Key Points

• CEO John Kao sold 172,600 Alignment Healthcare shares at an average price of $12.96, generating approximately $2.24 million. The transaction was conducted under a Rule 10b5-1 plan to cover tax obligations from vested equity awards, reducing his ownership by 21.83%.
• Alignment Healthcare shares fell 1.2% to $12.61, near their 52-week low of $12.39. The company recently exceeded quarterly earnings and revenue expectations, with revenue rising 31.6% year over year.
• Analysts maintain a generally positive view, with seven Buy ratings and four Holds, an average “Moderate Buy” rating, and a consensus price target of $23.60. Institutional investors own 86.19% of the company.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) CEO John Kao sold 172,600 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $12.96, for a total value of $2,236,896.00. Following the sale, the chief executive officer owned 618,166 shares of the company's stock, valued at $8,011,431.36. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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%

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

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued 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. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The company's revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter worth $26,000. Versant Capital Management Inc boosted its stake in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company's stock valued at $33,000 after purchasing an additional 1,135 shares during the period. Parallel Advisors LLC grew its holdings in Alignment Healthcare by 87.7% during the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company's stock valued at $33,000 after purchasing an additional 773 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Alignment Healthcare during the 3rd quarter valued at $33,000. Finally, Nykredit A S purchased a new stake in Alignment Healthcare during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALHC shares. Barclays decreased their price objective on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Raymond James Financial cut shares of Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. KeyCorp reiterated an "overweight" rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Finally, UBS Group reissued a "neutral" rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.60.

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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