Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Andreas P. Wagner Sells 7,632 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 7,632 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $125,164.80. Following the completion of the sale, the insider now directly owns 223,474 shares of the company’s stock, valued at $3,664,973.60. This represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Alignment Healthcare Stock Up 2.7 %

NASDAQ ALHC traded up $0.45 on Wednesday, reaching $17.19. The company had a trading volume of 2,791,742 shares, compared to its average volume of 1,412,390. The firm has a market capitalization of $3.30 billion, a PE ratio of -22.32 and a beta of 1.49. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $17.41. The firm has a 50-day moving average of $14.68 and a 200-day moving average of $12.59. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock valued at $110,453,000 after acquiring an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Alignment Healthcare by 77.9% in the fourth 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. Hood River Capital Management LLC grew its stake in shares of Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after purchasing an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC grew its stake in shares of Alignment Healthcare by 49.5% in the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,211,727 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on ALHC shares. Stifel Nicolaus increased 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. JPMorgan Chase & Co. raised their target price 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 report on Friday, February 28th. Barclays raised their target price 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. Finally, Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.83.

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.