Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sells $96,273.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 8,550 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the sale, the chief operating officer now owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. This represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded up $0.18 during trading hours on Tuesday, hitting $11.61. 2,002,497 shares of the company were exchanged, compared to its average volume of 1,172,277. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -14.83 and a beta of 1.42. The company’s 50 day moving average price is $11.92 and its 200-day moving average price is $10.00.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

ALHC has been the subject of a number of analyst reports. Stephens upgraded Alignment Healthcare from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $13.00 to $17.00 in a research note on Tuesday, December 3rd. UBS Group increased their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALHC. Deerfield Management Company L.P. Series C boosted its position in Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after buying an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after acquiring an additional 1,507,759 shares during the period. Royce & Associates LP purchased a new position in shares of Alignment Healthcare during the third quarter worth $3,782,000. Renaissance Technologies LLC lifted its position in Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in Alignment Healthcare in the second quarter valued at $1,512,000. 86.19% of the stock is owned by institutional investors and hedge funds.

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.