Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Sells $95,011.60 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Joseph S. Konowiecki sold 6,920 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.73, for a total transaction of $95,011.60. Following the sale, the director now directly owns 1,134,888 shares in the company, valued at $15,582,012.24. The trade was a 0.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock opened at $11.49 on Friday. The stock has a market capitalization of $2.20 billion, a P/E ratio of -14.92 and a beta of 1.45. The business has a 50 day simple moving average of $11.59 and a two-hundred day simple moving average of $9.35. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same period in the prior year, the company earned ($0.19) EPS. The firm’s revenue was up 51.6% compared to the same quarter last year. As a group, analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

ALHC has been the topic of several analyst reports. Piper Sandler restated an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen lifted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Barclays upped their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently bought and sold shares of ALHC. Deerfield Management Company L.P. Series C raised its holdings in Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares during the last quarter. Hood River Capital Management LLC lifted its position in Alignment Healthcare by 6.4% during the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after buying an additional 185,854 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Alignment Healthcare by 94.4% during the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after buying an additional 1,507,759 shares during the last quarter. Finally, State Street Corp grew its holdings in Alignment Healthcare by 0.9% in the 3rd quarter. State Street Corp now owns 2,252,287 shares of the company’s stock valued at $26,622,000 after buying an additional 20,731 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.