Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Christopher J. Joyce sold 25,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the insider now owns 415,022 shares in the company, valued at $7,665,456.34. The trade was a 5.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Alignment Healthcare Trading Down 1.3 %
ALHC opened at $17.85 on Thursday. The firm's fifty day moving average is $15.50 and its two-hundred day moving average is $13.14. The firm has a market cap of $3.42 billion, a PE ratio of -23.18 and a beta of 1.49. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $18.92. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on ALHC. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Barclays raised their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Piper Sandler lifted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Bank of America boosted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.83.
View Our Latest Stock Analysis on Alignment Healthcare
Institutional Trading of Alignment Healthcare
Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after acquiring an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after purchasing an additional 3,059,596 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock valued at $38,122,000 after purchasing an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at approximately $20,087,000. Finally, Broad Bay Capital Management LP bought a new stake in Alignment Healthcare during the 4th quarter worth approximately $18,804,000. Institutional investors and hedge funds own 86.19% of the company's stock.
About Alignment Healthcare
(
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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