Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Sells 6,744 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 6,744 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $120,650.16. Following the completion of the sale, the chief financial officer now directly owns 1,464,419 shares of the company’s stock, valued at approximately $26,198,455.91. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Robert Thomas Freeman also recently made the following trade(s):

• On Tuesday, March 18th, Robert Thomas Freeman sold 13,815 shares of Alignment Healthcare stock. The shares were sold at an average price of $16.89, for a total value of $233,335.35.
• On Wednesday, March 12th, Robert Thomas Freeman sold 14,692 shares of Alignment Healthcare stock. The stock was sold at an average price of $15.43, for a total value of $226,697.56.
• On Thursday, March 6th, Robert Thomas Freeman sold 218,295 shares of Alignment Healthcare stock. The stock was sold at an average price of $15.53, for a total value of $3,390,121.35.
• On Tuesday, March 4th, Robert Thomas Freeman sold 250,000 shares of Alignment Healthcare stock. The stock was sold at an average price of $15.58, for a total transaction of $3,895,000.00.

Alignment Healthcare Price Performance

NASDAQ ALHC traded up $0.17 during trading hours on Friday, reaching $18.30. The company’s stock had a trading volume of 1,599,660 shares, compared to its average volume of 1,491,362. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $18.60. The firm’s 50-day moving average price is $15.28 and its 200-day moving average price is $12.97. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently modified their holdings of ALHC. Wellington Management Group LLP increased its holdings in shares of Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Millennium Management LLC raised its stake in Alignment Healthcare by 588.3% during the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock valued at $38,122,000 after purchasing an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Alignment Healthcare during the fourth quarter valued at $20,087,000. Finally, Broad Bay Capital Management LP purchased a new position in shares of Alignment Healthcare in the 4th quarter worth $18,804,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analysts Set New Price Targets

ALHC has been the subject of a number of research reports. Barclays upped their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. Piper Sandler raised their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

About Alignment Healthcare

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.