Alignment Healthcare (NASDAQ:ALHC) Insider Robert Scavo Sells 4,044 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert Scavo sold 4,044 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $17.45, for a total value of $70,567.80. Following the transaction, the insider directly owned 498,970 shares in the company, valued at approximately $8,707,026.50. This represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Alignment Healthcare Trading Down 0.8%

Shares of ALHC stock traded down $0.13 on Friday, reaching $16.99. 1,945,321 shares of the company’s stock were exchanged, compared to its average volume of 2,945,851. The company’s fifty day simple moving average is $20.76 and its 200 day simple moving average is $18.73. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $3.47 billion, a PE ratio of -1,697.30, a P/E/G ratio of 2.50 and a beta of 1.18.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.10. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company posted ($0.16) EPS. Alignment Healthcare’s quarterly revenue was up 44.4% on a year-over-year basis. As a group, analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP lifted 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 worth $193,516,000 after acquiring an additional 6,940,277 shares during the period. Invesco Ltd. increased its position in Alignment Healthcare by 122.3% during the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after purchasing an additional 2,294,739 shares during the period. Capital World Investors bought a new stake in shares of Alignment Healthcare in the 4th quarter valued at about $44,203,000. Loomis Sayles & Co. L P purchased a new stake in shares of Alignment Healthcare in the 4th quarter worth approximately $44,162,000. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Alignment Healthcare in the 4th quarter worth approximately $39,500,000. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALHC shares. KeyCorp reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 22nd. Robert W. Baird set a $28.00 target price on shares of Alignment Healthcare in a research note on Friday, January 30th. Piper Sandler raised their target price on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. UBS Group lifted their price target on shares of Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.56.

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.