Dinesh M. Kumar Sells 30,000 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) insider Dinesh M. Kumar sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $14.49, for a total value of $434,700.00. Following the sale, the insider now directly owns 1,100,970 shares in the company, valued at approximately $15,953,055.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Alignment Healthcare Trading Up 6.5 %

Alignment Healthcare stock opened at $16.23 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.90 and a current ratio of 2.90. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -16.07 and a beta of 2.05. Alignment Healthcare, Inc. has a 1 year low of $6.14 and a 1 year high of $23.35. The firm’s 50 day moving average price is $12.56 and its two-hundred day moving average price is $10.42.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01. Alignment Healthcare had a negative net margin of 14.38% and a negative return on equity of 56.68%. The firm had revenue of $345.53 million for the quarter, compared to analysts’ expectations of $332.93 million. During the same period in the previous year, the company posted ($0.37) EPS. On average, research analysts predict that Alignment Healthcare, Inc. will post -1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in Alignment Healthcare during the 1st quarter worth approximately $34,000. First Quadrant LLC CA purchased a new position in shares of Alignment Healthcare during the 1st quarter valued at $47,000. US Bancorp DE grew its holdings in shares of Alignment Healthcare by 15.8% during the 2nd quarter. US Bancorp DE now owns 6,704 shares of the company’s stock valued at $76,000 after acquiring an additional 914 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Alignment Healthcare by 10.4% during the 1st quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock valued at $107,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of Alignment Healthcare during the 1st quarter valued at $112,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America raised Alignment Healthcare from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $18.00 to $14.00 in a report on Thursday, May 26th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Thursday, May 5th. Finally, Morgan Stanley dropped their target price on Alignment Healthcare from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $17.89.

About Alignment Healthcare

(Get Rating)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.

Further Reading

Insider Buying and Selling by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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