Robert L. Scavo Sells 55,403 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 55,403 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $860,408.59. Following the sale, the insider now directly owns 673,419 shares of the company’s stock, valued at approximately $10,458,197.07. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alignment Healthcare Stock Down 2.4 %

Alignment Healthcare stock opened at $14.89 on Friday. The firm has a market cap of $2.86 billion, a PE ratio of -19.34 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm’s 50 day moving average price is $13.89 and its two-hundred day moving average price is $12.14. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $16.25.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALHC. Creative Planning increased its stake 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 buying an additional 2,072 shares during the period. Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after purchasing an additional 180,522 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Alignment Healthcare during the 3rd quarter worth $3,782,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare during the 3rd quarter worth $131,000. Finally, Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare during the 3rd quarter worth $315,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analysts Set New Price Targets

ALHC has been the subject of several recent research reports. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.83.

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.