Christopher Joyce Sells 18,013 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher Joyce sold 18,013 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $17.79, for a total transaction of $320,451.27. Following the completion of the sale, the insider directly owned 305,451 shares of the company’s stock, valued at $5,433,973.29. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock opened at $18.76 on Friday. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The business’s fifty day moving average is $19.46 and its two-hundred day moving average is $18.87. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. The firm has a market cap of $3.83 billion, a PE ratio of -1,874.13, a P/E/G ratio of 2.74 and a beta of 1.20.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 44.4% on a year-over-year basis. Analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

ALHC has been the topic of several recent analyst reports. TD Cowen increased their price objective on shares of Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Piper Sandler upped their price target 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. JPMorgan Chase & Co. increased their price target on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, KeyCorp reiterated an “overweight” rating and issued a $28.00 price target on shares of Alignment Healthcare in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.56.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its stake in shares of Alignment Healthcare by 8.9% in the 4th quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock valued at $137,000 after acquiring an additional 566 shares during the period. State of Alaska Department of Revenue boosted its position in Alignment Healthcare by 6.0% during the 4th quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company’s stock worth $223,000 after purchasing an additional 636 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Alignment Healthcare by 6.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock valued at $196,000 after purchasing an additional 665 shares in the last quarter. Parallel Advisors LLC raised its position in Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in Alignment Healthcare by 2.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,752 shares of the company’s stock valued at $659,000 after purchasing an additional 844 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.