Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Rating) CEO John E. Kao sold 500,000 shares of the business's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $15.95, for a total transaction of $7,975,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,849,200 shares of the company's stock, valued at $45,444,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Alignment Healthcare Trading Up 2.4 %
NASDAQ ALHC traded up $0.38 during trading on Friday, reaching $16.48. 623,524 shares of the stock traded hands, compared to its average volume of 607,744. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -20.06 and a beta of 2.05. The stock's 50-day moving average price is $13.28 and its 200 day moving average price is $10.81. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.52. Alignment Healthcare, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $23.35.
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Alignment Healthcare (NASDAQ:ALHC – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.20. Alignment Healthcare had a negative net margin of 11.20% and a negative return on equity of 47.96%. During the same period in the previous year, the firm earned ($0.25) earnings per share. Analysts predict that Alignment Healthcare, Inc. will post -0.81 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on ALHC shares. Morgan Stanley lifted their price target on shares of Alignment Healthcare from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler lifted their price target on shares of Alignment Healthcare from $15.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, August 5th. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research report on Thursday, May 5th. Finally, Barclays lifted 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 Monday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.20.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ALHC. Nisa Investment Advisors LLC acquired a new position in shares of Alignment Healthcare in the first quarter valued at approximately $34,000. First Quadrant LLC CA acquired a new position in shares of Alignment Healthcare in the first quarter valued at approximately $47,000. US Bancorp DE lifted its position in shares of Alignment Healthcare by 15.8% in the second quarter. US Bancorp DE now owns 6,704 shares of the company's stock worth $76,000 after purchasing an additional 914 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Alignment Healthcare by 10.4% in the first quarter. Victory Capital Management Inc. now owns 11,124 shares of the company's stock worth $107,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of Alignment Healthcare in the first quarter worth $112,000. Institutional investors and hedge funds own 82.68% of the company's stock.
About Alignment Healthcare
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Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.
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