Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Robert L. Scavo Sells 60,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 60,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.60, for a total value of $876,000.00. Following the completion of the sale, the insider now owns 642,953 shares of the company’s stock, valued at approximately $9,387,113.80. The trade was a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $15.08 on Friday. The stock’s 50-day simple moving average is $16.45 and its 200 day simple moving average is $14.88. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -19.58 and a beta of 1.22. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a 52-week low of $7.05 and a 52-week high of $21.06.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analysts’ expectations of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.25) EPS. Research analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in ALHC. US Bancorp DE raised its holdings in shares of Alignment Healthcare by 6,544.2% in the 4th quarter. US Bancorp DE now owns 98,932 shares of the company’s stock valued at $1,113,000 after acquiring an additional 97,443 shares in the last quarter. Barclays PLC raised its holdings in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after acquiring an additional 114,191 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alignment Healthcare by 8.6% in the 4th quarter. Northern Trust Corp now owns 908,964 shares of the company’s stock valued at $10,226,000 after acquiring an additional 72,063 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at about $732,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at about $184,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Bank of America boosted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Robert W. Baird upped their price target on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Finally, Barclays boosted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.17.

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.