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 the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $120,650.16. Following the sale, the chief financial officer now owns 1,464,419 shares of the company’s stock, valued at approximately $26,198,455.91. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction 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 transaction 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 Trading Up 0.9 %

NASDAQ:ALHC opened at $18.30 on Monday. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $18.44. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49. The firm has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $13.01.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC raised its stake in Alignment Healthcare by 85.3% during the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after buying an additional 55,771 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after acquiring an additional 205,705 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring an additional 180,522 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Alignment Healthcare by 132.2% during the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after purchasing an additional 114,191 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ALHC. JPMorgan Chase & Co. upped their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Barclays boosted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Piper Sandler boosted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.