Insider Selling: Alignment Healthcare (NASDAQ:ALHC) CEO Sells $3,688,200.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 180,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $20.49, for a total transaction of $3,688,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,652,641 shares of the company’s stock, valued at approximately $54,352,614.09. The trade was a 6.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $20.05 on Friday. The firm has a 50 day moving average of $20.89 and a two-hundred day moving average of $17.99. The stock has a market capitalization of $4.01 billion, a PE ratio of -167.08, a P/E/G ratio of 5.20 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Alignment Healthcare by 167.3% in the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after acquiring an additional 6,940,277 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Alignment Healthcare by 122.3% in the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after purchasing an additional 2,294,739 shares during the last quarter. Capital World Investors acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at about $44,203,000. Loomis Sayles & Co. L P purchased a new position in Alignment Healthcare during the 4th quarter worth approximately $44,162,000. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in Alignment Healthcare during the fourth quarter worth approximately $39,500,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of analyst reports. Robert W. Baird set a $28.00 price target on Alignment Healthcare in a research report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Alignment Healthcare in a report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. Barclays increased their price objective on shares of Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. Finally, Piper Sandler lifted their price objective on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.32.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.