John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) CEO John E. Kao sold 90,000 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.10, for a total value of $1,719,000.00. Following the completion of the transaction, the chief executive officer now owns 2,003,100 shares of the company's stock, valued at $38,259,210. The trade was a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Alignment Healthcare Stock Down 4.1 %

Shares of ALHC traded down $0.74 during trading hours on Monday, hitting $17.50. 2,570,829 shares of the company were exchanged, compared to its average volume of 1,685,933. The company has a market cap of $3.36 billion, a PE ratio of -22.73 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm's 50 day moving average is $16.60 and its 200-day moving average is $13.93. Alignment Healthcare, Inc. has a 52 week low of $4.92 and a 52 week high of $21.06.

Hedge Funds Weigh In On Alignment Healthcare

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in Alignment Healthcare by 2,748.5% during the first quarter. Blue Trust Inc. now owns 24,867 shares of the company's stock valued at $463,000 after purchasing an additional 23,994 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Alignment Healthcare by 478.0% during the first quarter. Assenagon Asset Management S.A. now owns 831,397 shares of the company's stock valued at $15,481,000 after acquiring an additional 687,566 shares during the period. Rhumbline Advisers boosted its stake in shares of Alignment Healthcare by 4.4% in the 1st quarter. Rhumbline Advisers now owns 141,638 shares of the company's stock valued at $2,637,000 after purchasing an additional 5,934 shares during the last quarter. GAMMA Investing LLC boosted its stake in Alignment Healthcare by 3,216.9% in the first quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock valued at $443,000 after acquiring an additional 23,097 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after buying an additional 3,257,630 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird increased their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Barclays upped their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Bank of America increased their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Piper Sandler raised their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Finally, William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and an average target price of $16.61.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.