By otakuyassine3@gmail.com 
Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) insider Robert L. Scavo sold 55,403 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $860,408.59. Following the completion of the transaction, the insider now directly owns 673,419 shares in the company, valued at $10,458,197.07. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Alignment Healthcare Price Performance
NASDAQ:ALHC opened at $14.89 on Friday. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $16.25. The company has a market cap of $2.86 billion, a P/E ratio of -19.34 and a beta of 1.49. The firm’s fifty day moving average price is $13.97 and its two-hundred day moving average price is $12.21. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.
Analyst Ratings Changes
ALHC has been the subject of several research analyst reports. Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. Bank of America boosted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Piper Sandler upped their target price 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. Finally, Barclays upped their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.
Check Out Our Latest Report on ALHC
Hedge Funds Weigh In On Alignment Healthcare
Several institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning boosted its position in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after acquiring an additional 2,154 shares during the period. Rhumbline Advisers boosted its position in shares of Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after acquiring an additional 2,937 shares during the period. MetLife Investment Management LLC boosted its position in shares of Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after acquiring an additional 3,256 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after acquiring an additional 3,300 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.
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.
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