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 stock in a transaction on Monday, June 16th. The stock was sold at an average price of $14.48, for a total transaction of $1,303,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,733,100 shares of the company's stock, valued at $25,095,288. The trade was a 4.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alignment Healthcare Trading Up 0.5%

Alignment Healthcare stock traded up $0.07 during trading hours on Tuesday, hitting $14.57. 2,485,444 shares of the stock were exchanged, compared to its average volume of 2,057,970. Alignment Healthcare, Inc. has a 12 month low of $7.05 and a 12 month high of $21.06. The business's 50-day moving average is $16.28 and its two-hundred day moving average is $14.94. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The company had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same period in the prior year, the business earned ($0.25) earnings per share. Alignment Healthcare's quarterly revenue was up 47.5% on a year-over-year basis. On average, sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after acquiring an additional 616 shares during the last quarter. Ballentine Partners LLC raised its holdings in Alignment Healthcare by 8.6% in the first quarter. Ballentine Partners LLC now owns 11,674 shares of the company's stock worth $217,000 after purchasing an additional 924 shares during the period. MCF Advisors LLC boosted its position in shares of Alignment Healthcare by 87.6% during the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after purchasing an additional 1,011 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of Alignment Healthcare by 0.6% during the first quarter. Cresset Asset Management LLC now owns 287,565 shares of the company's stock worth $5,354,000 after purchasing an additional 1,797 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alignment Healthcare by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company's stock valued at $641,000 after buying an additional 2,154 shares during the period. Institutional investors own 86.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ALHC. UBS Group increased their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler upped their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Alignment Healthcare presently has an average rating of "Moderate Buy" and an average target price of $17.17.

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.

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