Alignment Healthcare (NASDAQ:ALHC) CEO John Kao Sells 172,600 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John Kao sold 172,600 shares of Alignment Healthcare stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $12.96, for a total value of $2,236,896.00. Following the sale, the chief executive officer directly owned 618,166 shares in the company, valued at approximately $8,011,431.36. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alignment Healthcare Stock Down 1.2%

ALHC traded down $0.15 on Friday, reaching $12.61. The company’s stock had a trading volume of 6,075,652 shares, compared to its average volume of 3,839,666. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 66.37 and a beta of 1.11. Alignment Healthcare, Inc. has a 1 year low of $12.39 and a 1 year high of $25.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70. The business’s 50 day moving average is $16.17 and its 200 day moving average is $18.03.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $0.07 EPS. Alignment Healthcare’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, research analysts forecast that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALHC. TD Cowen reissued a “buy” rating on shares of Alignment Healthcare in a report on Monday, August 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Alignment Healthcare in a research note on Tuesday, August 4th. Raymond James Financial cut shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Finally, Barclays lowered their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently modified their holdings of the business. William Blair Investment Management LLC acquired a new stake in Alignment Healthcare during the second quarter worth about $184,799,000. Wellington Management Group LLP boosted its stake in Alignment Healthcare by 167.3% in the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after acquiring an additional 6,940,277 shares during the period. California State Teachers Retirement System grew its holdings in shares of Alignment Healthcare by 2,587.6% during the second quarter. California State Teachers Retirement System now owns 5,326,749 shares of the company’s stock valued at $126,830,000 after purchasing an additional 5,128,549 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Alignment Healthcare during the second quarter valued at approximately $87,794,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Alignment Healthcare during the 2nd quarter worth approximately $87,077,000. Institutional investors own 86.19% of the company’s stock.

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.