Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Christopher J. Joyce Sells 25,000 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the transaction, the insider now owns 415,022 shares in the company, valued at approximately $7,665,456.34. This represents a 5.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Alignment Healthcare Stock Down 2.2 %

Alignment Healthcare stock opened at $18.11 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. Alignment Healthcare, Inc. has a fifty-two week low of $4.59 and a fifty-two week high of $18.97. The firm has a fifty day moving average price of $15.64 and a two-hundred day moving average price of $13.22. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -23.52 and a beta of 1.49.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in Alignment Healthcare in the 4th quarter worth approximately $55,000. RiverPark Advisors LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth $106,000. Tower Research Capital LLC TRC increased its position in 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 acquiring an additional 6,286 shares during the period. Ballentine Partners LLC acquired a new position in Alignment Healthcare during the 4th quarter valued at $121,000. Finally, Aigen Investment Management LP acquired a new position in Alignment Healthcare during the 4th quarter valued at $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALHC shares. JPMorgan Chase & Co. upped their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Stephens reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Piper Sandler lifted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.