Christopher J. Joyce Sells 25,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 25,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the completion of the transaction, the insider now directly owns 415,022 shares in the company, valued at approximately $7,665,456.34. This represents a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alignment Healthcare Price Performance

Shares of ALHC stock traded down $0.23 on Wednesday, hitting $17.85. 3,008,337 shares of the company’s stock were exchanged, compared to its average volume of 1,520,626. The company has a 50 day moving average of $15.43 and a 200 day moving average of $13.11. The stock has a market cap of $3.42 billion, a P/E ratio of -23.18 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $18.92.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALHC. Barclays raised their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Stifel Nicolaus increased their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Piper Sandler raised their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently made changes to their positions in ALHC. Wellington Management Group LLP increased its position in Alignment Healthcare by 77.9% during 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 in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Alignment Healthcare by 149.8% during the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $958,000 after buying an additional 51,084 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alignment Healthcare by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after buying an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Alignment Healthcare in the 4th quarter valued at $189,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Alignment Healthcare by 414.6% during the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after acquiring an additional 159,774 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.