Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells 7,632 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 7,632 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $125,164.80. Following the completion of the transaction, the insider now owns 223,474 shares of the company’s stock, valued at $3,664,973.60. This represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alignment Healthcare Trading Up 2.5 %

Shares of ALHC stock opened at $17.61 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -22.87 and a beta of 1.49. 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 50-day moving average price of $14.90 and a 200 day moving average price of $12.69. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $17.76.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Piper Sandler boosted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. One 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $55,000. RiverPark Advisors LLC purchased a new position in shares of Alignment Healthcare during the 4th quarter worth $106,000. Tower Research Capital LLC TRC boosted its holdings in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after purchasing an additional 6,286 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alignment Healthcare in the third quarter valued at $131,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.