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

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $12.83, but opened at $11.10. Alignment Healthcare shares last traded at $11.51, with a volume of 5,217,110 shares trading hands.

Specifically, insider Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.35, for a total value of $340,500.00. Following the transaction, the insider now owns 1,696,097 shares in the company, valued at approximately $19,250,700.95. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.42, for a total transaction of $1,207,800.00. Following the completion of the transaction, the chief executive officer now owns 2,453,100 shares of the company’s stock, valued at approximately $32,920,602. The trade was a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Robert Thomas Freeman sold 30,500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $13.42, for a total value of $409,310.00. Following the completion of the transaction, the chief financial officer now owns 92,929 shares in the company, valued at $1,247,107.18. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

ALHC has been the subject of several research reports. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. Robert W. Baird upped their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays boosted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Alignment Healthcare Stock Down 10.5 %

The firm has a market capitalization of $2.20 billion, a PE ratio of -14.92 and a beta of 1.45. 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 company has a 50-day moving average price of $11.59 and a 200 day moving average price of $9.38.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. During the same period in the previous year, the firm earned ($0.19) EPS. The firm’s revenue was up 51.6% compared to the same quarter last year. Analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning grew its position in Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the 3rd quarter worth approximately $95,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after purchasing an additional 9,595 shares in the last quarter. 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.