Alignment Healthcare (NASDAQ:ALHC) Shares Down 3.5% on Insider Selling

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price fell 3.5% on Monday following insider selling activity. The stock traded as low as $14.26 and last traded at $14.41. 877,206 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 2,044,945 shares. The stock had previously closed at $14.94.

Specifically, insider Andreas P. Wagner sold 19,399 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $15.26, for a total transaction of $296,028.74. Following the completion of the transaction, the insider now owns 204,075 shares in the company, valued at $3,114,184.50. This trade represents a 8.68% 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. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $15.27, for a total transaction of $1,374,300.00. Following the transaction, the chief executive officer now owns 1,823,100 shares of the company’s stock, valued at $27,838,737. This trade represents a 4.70% decrease in their position. The disclosure for this sale can be found here. In other Alignment Healthcare news, insider Robert L. Scavo sold 40,863 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $15.20, for a total transaction of $621,117.60. Following the completion of the transaction, the insider now owns 602,090 shares in the company, valued at $9,151,768. This trade represents a 6.36% 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 Upgrades and Downgrades

Several equities research analysts have recently issued reports on ALHC shares. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. Robert W. Baird raised their price target on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Finally, Bank of America raised their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Alignment Healthcare Stock Down 2.9%

The business’s 50 day moving average is $16.28 and its 200 day moving average is $14.94. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -18.83 and a beta of 1.22. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $926.93 million during the quarter, compared to analysts’ expectations of $889.83 million. During the same period in the previous year, the business posted ($0.25) EPS. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. Sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of the business. MCF Advisors LLC raised its position in shares of Alignment Healthcare by 87.6% in the first quarter. MCF Advisors LLC now owns 2,165 shares of the company’s stock worth $40,000 after acquiring an additional 1,011 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Alignment Healthcare in the first quarter worth about $42,000. Amalgamated Bank raised its position in shares of Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company’s stock worth $65,000 after acquiring an additional 616 shares during the period. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter worth about $106,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.