Alignment Healthcare (NASDAQ:ALHC) Shares Down 3.5% on Insider Selling

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares traded down 3.5% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $14.26 and last traded at $14.41. 877,206 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 2,044,945 shares. The stock had previously closed at $14.94.

Specifically, insider Andreas P. Wagner sold 19,399 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $15.26, for a total transaction of $296,028.74. Following the completion of the sale, the insider now owns 204,075 shares of the company’s stock, valued at approximately $3,114,184.50. This represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $15.27, for a total transaction of $1,374,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,823,100 shares of the company’s stock, valued at approximately $27,838,737. This trade represents a 4.70% decrease in their position. The disclosure for this sale can be found here. In related news, insider Robert L. Scavo sold 40,863 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $15.20, for a total value of $621,117.60. Following the completion of the sale, the insider now owns 602,090 shares in the company, valued at approximately $9,151,768. This trade represents a 6.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

ALHC has been the subject of several recent research reports. 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 research report on Tuesday, April 8th. Piper Sandler raised their price target 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. Robert W. Baird raised their price target on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Stephens raised shares of Alignment Healthcare to a “strong-buy” rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Alignment Healthcare Stock Performance

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market cap of $2.87 billion, a PE ratio of -18.83 and a beta of 1.22. The stock’s 50 day simple moving average is $16.28 and its two-hundred day simple moving average is $14.94.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) EPS. As a group, research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Alignment Healthcare by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company’s stock worth $206,941,000 after purchasing an additional 1,295,825 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Alignment Healthcare by 5.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,078,113 shares of the company’s stock valued at $169,035,000 after buying an additional 429,071 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Alignment Healthcare by 0.9% in the 1st quarter. Wellington Management Group LLP now owns 7,509,057 shares of the company’s stock valued at $139,819,000 after buying an additional 70,557 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after buying an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC boosted its holdings in shares of Alignment Healthcare by 28.9% in the 1st quarter. 8 Knots Management LLC now owns 4,715,472 shares of the company’s stock valued at $87,802,000 after buying an additional 1,056,777 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.