Robert L. Scavo Sells 2,864 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the sale, the insider now directly owns 702,953 shares of the company’s stock, valued at approximately $12,575,829.17. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alignment Healthcare Stock Up 0.9 %

Shares of NASDAQ ALHC opened at $18.30 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $3.51 billion, a PE ratio of -23.77 and a beta of 1.49. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $18.44. The business’s fifty day moving average price is $15.28 and its 200-day moving average price is $13.00.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALHC shares. Stifel Nicolaus upped their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Bank of America increased their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, Barclays boosted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after purchasing an additional 3,257,630 shares during the period. Mackenzie Financial Corp raised its holdings in Alignment Healthcare by 149.8% during the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after acquiring an additional 51,084 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alignment Healthcare by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after acquiring an additional 36,151 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Alignment Healthcare during the fourth quarter worth $189,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Alignment Healthcare by 414.6% in the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after acquiring an additional 159,774 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.