Joseph S. Konowiecki Sells 25,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Key Points

• Director Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare at an average price of $16.00 each, reflecting a 2.12% decrease in ownership.
• Alignment Healthcare reported $1.02 billion in revenue for the quarter, surpassing estimates of $960.25 million, while achieving $0.07 earnings per share which exceeded expectations of a loss.
• Analysts have given Alignment Healthcare an average rating of "Moderate Buy", with a price target of $17.61, showing an upward revision from several firms regarding the stock's potential.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) Director Joseph S. Konowiecki sold 25,000 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $16.00, for a total transaction of $400,000.00. Following the transaction, the director owned 1,152,049 shares in the company, valued at $18,432,784. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alignment Healthcare Price Performance

ALHC traded down $0.81 on Friday, reaching $12.97. The company had a trading volume of 3,566,563 shares, compared to its average volume of 3,659,441. The company's fifty day moving average is $13.92 and its 200 day moving average is $15.33. Alignment Healthcare, Inc. has a fifty-two week low of $7.92 and a fifty-two week high of $21.06. The company has a quick ratio of 1.69, a current ratio of 1.66 and a debt-to-equity ratio of 2.29.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.14. Alignment Healthcare had a negative net margin of 1.53% and a negative return on equity of 43.68%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $960.25 million. During the same quarter in the prior year, the business posted ($0.13) EPS. The business's revenue was up 49.0% compared to the same quarter last year. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. 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 purchasing an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock worth $97,302,000 after acquiring an additional 3,059,596 shares during the period. Millennium Management LLC lifted its holdings in shares of Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock worth $38,122,000 after acquiring an additional 2,896,311 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $20,087,000. Finally, Invesco Ltd. lifted its holdings in shares of Alignment Healthcare by 1,415.7% during the 1st quarter. Invesco Ltd. now owns 1,875,790 shares of the company's stock worth $34,927,000 after acquiring an additional 1,752,033 shares during the period. Institutional investors and hedge funds own 86.19% of the company's stock.

Wall Street Analyst Weigh In

ALHC has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Stifel Nicolaus boosted their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Stephens upgraded shares of Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Finally, Barclays upgraded shares of Alignment Healthcare from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $9.00 to $13.00 in a research note on Thursday. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of "Moderate Buy" and an average price target of $17.61.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.