Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 15,210 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 29.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 36,461 shares of the company’s stock after selling 15,210 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Alignment Healthcare were worth $410,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALHC. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the third quarter worth $95,000. Ballentine Partners LLC bought a new position in Alignment Healthcare in the 4th quarter worth about $121,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alignment Healthcare in the 3rd quarter worth about $131,000. Creative Planning raised its holdings in shares of 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 in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Alignment Healthcare during the 3rd quarter valued at about $315,000. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $15.32 on Thursday. The company has a market capitalization of $2.94 billion, a P/E ratio of -19.90 and a beta of 1.45. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $15.82. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a 50 day moving average price of $12.37 and a two-hundred day moving average price of $11.16.

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

Insider Activity

In other Alignment Healthcare news, insider Hakan Kardes sold 4,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $12.98, for a total transaction of $58,410.00. Following the transaction, the insider now directly owns 375,944 shares of the company’s stock, valued at approximately $4,879,753.12. The trade was a 1.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,453,100 shares of the company’s stock, valued at approximately $32,920,602. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,544 shares of company stock valued at $6,693,242. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ALHC. KeyCorp began coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Thursday, January 2nd. UBS Group raised their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays upped their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.88.

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.