Key Points
- Alignment Healthcare EVP Joseph Konowiecki sold 25,000 shares on June 26 at an average price of $23.00, totaling $575,000. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 2.17%.
- The stock has been trading near its 52-week high, opening at $23.21 on Friday versus a 52-week range of $11.63 to $23.87. Alignment Healthcare’s market value is about $4.8 billion.
- Recent results and analyst sentiment remain generally positive, with the company beating quarterly EPS and revenue estimates and posting 33.3% revenue growth year over year. Analysts currently have a consensus rating of “Moderate Buy” with a target price of $24.30.
Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) EVP Joseph Konowiecki sold 25,000 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $23.00, for a total value of $575,000.00. Following the completion of the transaction, the executive vice president directly owned 1,128,816 shares in the company, valued at $25,962,768. The trade was a 2.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alignment Healthcare Trading Up 2.2%
Shares of NASDAQ ALHC opened at $23.21 on Friday. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $4.80 billion, a P/E ratio of 257.84, a P/E/G ratio of 3.07 and a beta of 1.14. The company's 50 day simple moving average is $18.76 and its 200 day simple moving average is $19.58.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.Alignment Healthcare's quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. On average, analysts predict that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Alignment Healthcare by 92.6% in the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company's stock worth $1,720,000 after acquiring an additional 44,413 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alignment Healthcare by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company's stock valued at $1,109,000 after purchasing an additional 2,594 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Alignment Healthcare by 79.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company's stock valued at $18,112,000 after purchasing an additional 429,703 shares in the last quarter. Woodline Partners LP bought a new stake in Alignment Healthcare in the 1st quarter worth about $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alignment Healthcare by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company's stock worth $5,729,000 after buying an additional 44,452 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Weiss Ratings raised Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Barclays reduced their target price on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 26th. UBS Group upped their price objective on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 1st. KeyCorp reissued an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Finally, Wolfe Research assumed coverage on Alignment Healthcare in a report on Friday, April 17th. They issued an "outperform" rating and a $24.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.30.
View Our Latest Stock Report on ALHC
About Alignment Healthcare
(
Get Free Report)
Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.
At the core of Alignment Healthcare's approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
