Robert Scavo Sells 11,285 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock
by Renee Jackson · The Cerbat GemAlignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) insider Robert Scavo sold 11,285 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $201,324.40. Following the completion of the transaction, the insider owned 487,685 shares of the company’s stock, valued at approximately $8,700,300.40. This trade represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Alignment Healthcare Price Performance
Shares of NASDAQ:ALHC traded down $0.03 during trading on Thursday, reaching $18.16. 3,987,587 shares of the company’s stock traded hands, compared to its average volume of 2,967,147. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. The firm has a market cap of $3.71 billion, a PE ratio of -1,814.19, a P/E/G ratio of 2.62 and a beta of 1.18. The company has a 50-day simple moving average of $20.57 and a 200-day simple moving average of $18.78.
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.Alignment Healthcare’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) EPS. As a group, analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.
Institutional Investors Weigh In On Alignment Healthcare
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Alignment Healthcare during the fourth quarter worth about $26,000. Parallel Advisors LLC boosted its holdings in shares of Alignment Healthcare by 87.7% during the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after purchasing an additional 773 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $33,000. First Horizon Corp acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $39,000. Finally, GAMMA Investing LLC lifted its position in Alignment Healthcare by 83.8% during the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock worth $43,000 after buying an additional 987 shares in the last quarter. 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 research analyst reports. Robert W. Baird set a $28.00 target price on Alignment Healthcare in a research note on Friday, January 30th. KeyCorp reissued an “overweight” rating and issued a $28.00 price target on shares of Alignment Healthcare in a report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Piper Sandler lifted their target price on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.56.
Get Our Latest Research Report on Alignment Healthcare
About Alignment Healthcare
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.