Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down After Insider Selling

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $19.48, but opened at $17.40. Alignment Healthcare shares last traded at $16.64, with a volume of 1,172,478 shares traded.

Specifically, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $19.10, for a total value of $1,719,000.00. Following the completion of the sale, the chief executive officer now owns 2,003,100 shares of the company’s stock, valued at $38,259,210. This trade represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dawn Christine Maroney sold 230,000 shares of Alignment Healthcare stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the completion of the sale, the president now owns 2,132,899 shares of the company’s stock, valued at approximately $40,738,370.90. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALHC. JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stephens reissued an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Barclays boosted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Finally, Robert W. Baird boosted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.61.

Alignment Healthcare Stock Performance

The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -21.57 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm’s fifty day moving average is $16.39 and its 200 day moving average is $13.74.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at $55,000. RiverPark Advisors LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth about $106,000. Tower Research Capital LLC TRC raised its stake in shares of Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after acquiring an additional 6,286 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Alignment Healthcare during the 4th quarter worth $121,000. Finally, Aigen Investment Management LP acquired a new position in Alignment Healthcare during the 4th quarter worth $129,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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.