Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Christopher J. Joyce sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $389,500.00. Following the completion of the transaction, the insider now owns 397,845 shares of the company's stock, valued at $6,198,425.10. This represents a 5.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Alignment Healthcare Stock Performance
Shares of ALHC opened at $15.25 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The business has a 50-day simple moving average of $13.89 and a two-hundred day simple moving average of $12.14. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -19.81 and a beta of 1.49. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $16.25.
Hedge Funds Weigh In On Alignment Healthcare
A number of hedge funds have recently made changes to their positions in ALHC. R Squared Ltd bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $106,000. Tower Research Capital LLC TRC boosted its stake 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. Ballentine Partners LLC bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $121,000. Finally, Aigen Investment Management LP bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $129,000. Institutional investors own 86.19% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday. Bank of America upped their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday. Stifel Nicolaus upped their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.83.
Read Our Latest Research Report on Alignment Healthcare
Alignment Healthcare Company Profile
(
Get Free Report)
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.
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