John E. Kao Sells 90,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.42, for a total value of $1,207,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,453,100 shares of the company’s stock, valued at $32,920,602. This represents a 3.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $12.83 on Friday. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -16.60 and a beta of 1.45. The business’s fifty day simple moving average is $11.49 and its two-hundred day simple moving average is $9.28. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays raised their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. TD Cowen raised their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. UBS Group boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Alignment Healthcare in the 3rd quarter worth approximately $95,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare in the third quarter worth $131,000. Virtu Financial LLC purchased a new stake in Alignment Healthcare during the first quarter valued at $57,000. Creative Planning lifted its holdings in 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. Finally, Principal Financial Group Inc. boosted its position in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after purchasing an additional 2,077 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

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.