Joseph Konowiecki Sells 23,511 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock

Key Points

• Alignment Healthcare EVP Joseph Konowiecki sold 23,511 shares at an average price of $8.61, generating approximately $202,430. The sale covered tax-withholding obligations tied to vested equity awards, and he retained 1.08 million shares.
• ALHC shares fell 4.0% to $8.35, near their 52-week low of $8.27, with trading volume exceeding 23.5 million shares. The stock remains well below its 52-week high of $25.12.
• The company recently exceeded quarterly earnings and revenue expectations, reporting $0.17 in EPS and $1.34 billion in revenue, up 31.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $23.60.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) EVP Joseph Konowiecki sold 23,511 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $8.61, for a total transaction of $202,429.71. Following the sale, the executive vice president directly owned 1,080,305 shares in the company, valued at $9,301,426.05. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Trading Down 4.0%

NASDAQ ALHC traded down $0.35 on Friday, hitting $8.35. The company's stock had a trading volume of 23,573,323 shares, compared to its average volume of 5,031,466. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. Alignment Healthcare, Inc. has a 1-year low of $8.27 and a 1-year high of $25.12. The company's 50-day moving average is $15.19 and its 200 day moving average is $17.75. The firm has a market cap of $1.73 billion, a PE ratio of 43.95 and a beta of 1.11.

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

Institutional Trading of Alignment Healthcare

Large investors have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new position in shares of Alignment Healthcare in the 2nd quarter worth about $1,164,000. Arizona State Retirement System boosted its position in shares of Alignment Healthcare by 15.8% during the 2nd quarter. Arizona State Retirement System now owns 53,553 shares of the company's stock valued at $1,275,000 after purchasing an additional 7,318 shares in the last quarter. Nykredit A S bought a new stake in shares of Alignment Healthcare during the 2nd quarter valued at about $36,000. Corient Private Wealth LP boosted its position in shares of Alignment Healthcare by 128.2% during the 2nd quarter. Corient Private Wealth LP now owns 136,505 shares of the company's stock valued at $3,250,000 after purchasing an additional 76,677 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Alignment Healthcare during the second quarter worth approximately $755,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Alignment Healthcare Company Profile

Alignment Healthcare, Inc is a technology-enabled healthcare company that provides Medicare Advantage health plans and care-management services for older adults. Through its Alignment Health Plan subsidiary, the company offers insurance coverage designed for Medicare-eligible members, including primary and specialty care coordination, prescription drug benefits, preventive services and access to a network of healthcare providers.

The company combines health-plan operations with proprietary technology intended to support personalized care.

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