John Kao Sells 298,000 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 298,000 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $19.86, for a total transaction of $5,918,280.00. Following the sale, the chief executive officer directly owned 1,088,766 shares in the company, valued at approximately $21,622,892.76. The trade was a 21.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $20.93 on Thursday. The stock’s 50-day simple moving average is $19.15 and its 200-day simple moving average is $19.83. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $25.12. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market capitalization of $4.33 billion, a PE ratio of 232.56, a price-to-earnings-growth ratio of 2.86 and a beta of 1.05.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. As a group, equities research analysts forecast that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALHC shares. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Raymond James Financial set a $22.00 target price on Alignment Healthcare in a research note on Thursday, May 7th. Finally, Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.30.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. Wellington Management Group LLP boosted its holdings 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. Bank of New York Mellon Corp increased its stake in Alignment Healthcare by 232.5% during the first quarter. Bank of New York Mellon Corp now owns 3,313,110 shares of the company’s stock worth $58,377,000 after acquiring an additional 2,316,777 shares during the last quarter. Invesco Ltd. increased its stake in Alignment Healthcare by 122.3% during the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock worth $58,387,000 after acquiring an additional 2,294,739 shares during the last quarter. Capital World Investors purchased a new position in shares of Alignment Healthcare in the 4th quarter worth about $44,203,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Alignment Healthcare in the 4th quarter worth about $44,162,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.