Joseph S. Konowiecki Sells 6,920 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) Director Joseph S. Konowiecki sold 6,920 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.73, for a total transaction of $95,011.60. Following the completion of the sale, the director now owns 1,134,888 shares in the company, valued at $15,582,012.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alignment Healthcare Price Performance

Alignment Healthcare stock traded down $0.38 during mid-day trading on Wednesday, hitting $12.78. The stock had a trading volume of 934,105 shares, compared to its average volume of 1,045,498. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year 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. The firm has a market capitalization of $2.45 billion, a P/E ratio of -16.60 and a beta of 1.45. The firm’s 50 day moving average is $11.43 and its 200 day moving average is $9.26.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) earnings per share. On average, sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALHC has been the topic of a number of research reports. KeyCorp initiated coverage on Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Finally, TD Cowen lifted their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in ALHC. Creative Planning increased its holdings in Alignment Healthcare by 20.0% in the 3rd 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 last quarter. Principal Financial Group Inc. grew its position in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after purchasing an additional 2,077 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the third quarter worth about $95,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after buying an additional 9,595 shares during the last quarter. 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.