Insider Selling: Alignment Healthcare (NASDAQ:ALHC) Insider Sells 32,479 Shares of Company Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hyong Kim sold 32,479 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total value of $269,575.70. Following the transaction, the insider directly owned 299,271 shares in the company, valued at approximately $2,483,949.30. This represents a 9.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Trading Up 2.2%

ALHC traded up $0.18 during trading on Wednesday, reaching $8.55. The company had a trading volume of 6,562,403 shares, compared to its average volume of 5,458,977. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The business has a 50 day simple moving average of $12.03 and a 200-day simple moving average of $16.82. The stock has a market cap of $1.77 billion, a P/E ratio of 45.00 and a beta of 1.14. Alignment Healthcare, Inc. has a 52 week low of $7.37 and a 52 week high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The business’s revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, equities analysts anticipate that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Alignment Healthcare by 9.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,445 shares of the company’s stock valued at $202,000 after buying an additional 962 shares during the period. GAMMA Investing LLC grew its holdings in Alignment Healthcare by 46.6% during the second quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock worth $80,000 after acquiring an additional 1,070 shares during the period. Versant Capital Management Inc lifted its stake in shares of Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares during the period. Nykredit A S acquired a new stake in Alignment Healthcare during the second quarter valued at $36,000. Finally, TD Asset Management Inc grew its position in Alignment Healthcare by 0.3% during the fourth quarter. TD Asset Management Inc now owns 550,966 shares of the company’s stock valued at $10,882,000 after buying an additional 1,810 shares during the period. Institutional investors own 86.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALHC shares. Raymond James Financial downgraded Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. JPMorgan Chase & Co. cut their price target on shares of Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. TD Cowen restated a “buy” rating on shares of Alignment Healthcare in a research note on Wednesday, September 16th. Finally, Barclays decreased their price target on shares of Alignment Healthcare from $16.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.00.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.