Alignment Healthcare (NASDAQ:ALHC) CEO Sells $5,252,500.00 in Stock
by Danessa Lincoln · The Markets DailyAlignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) CEO John Kao sold 250,000 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $21.01, for a total transaction of $5,252,500.00. Following the transaction, the chief executive officer owned 2,104,641 shares in the company, valued at approximately $44,218,507.41. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alignment Healthcare Trading Down 1.6%
Alignment Healthcare stock traded down $0.35 during trading hours on Wednesday, reaching $21.31. 4,986,662 shares of the company’s stock traded hands, compared to its average volume of 3,171,031. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.71. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -2,128.87, a PEG ratio of 2.74 and a beta of 1.20. The firm’s 50 day moving average is $19.37 and its 200-day moving average is $18.96.
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted ($0.16) EPS. The company’s revenue was up 44.4% compared to the same quarter last year. On average, analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.
Institutional Trading of Alignment Healthcare
Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in shares of Alignment Healthcare in the 4th quarter valued at about $26,000. Parallel Advisors LLC increased its stake in shares of Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after acquiring an additional 773 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Alignment Healthcare in the 3rd quarter valued at about $33,000. First Horizon Corp bought a new stake in shares of Alignment Healthcare in the 4th quarter valued at about $39,000. Finally, GAMMA Investing LLC increased its stake in shares of Alignment Healthcare by 83.8% in the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after acquiring an additional 987 shares during the last quarter. 86.19% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on ALHC. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. TD Cowen upped their price target on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 16th. UBS Group upped their price target on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, Piper Sandler upped their price target on Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $24.75.
Read Our Latest Report on ALHC
Alignment Healthcare Company Profile
Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.
At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.