Robert L. Scavo Sells 2,864 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the transaction, the insider now owns 702,953 shares of the company’s stock, valued at $12,575,829.17. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Alignment Healthcare Stock Up 0.9 %

Shares of Alignment Healthcare stock traded up $0.17 on Friday, hitting $18.30. 1,599,660 shares of the company traded hands, compared to its average volume of 1,491,362. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $18.60. 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 company has a market cap of $3.51 billion, a PE ratio of -23.77 and a beta of 1.49. The company has a 50-day moving average price of $15.28 and a 200 day moving average price of $12.97.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALHC. Piper Sandler upped their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. Finally, Stifel Nicolaus increased their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Alignment Healthcare by 54.7% in 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 buying an additional 3,059,596 shares in the last quarter. Millennium Management LLC increased its holdings in Alignment Healthcare by 588.3% in the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after buying an additional 2,896,311 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Alignment Healthcare in the fourth quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP bought a new position in Alignment Healthcare during the fourth quarter valued at approximately $18,804,000. Institutional investors and hedge funds 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.