Key Points
- Alignment Healthcare EVP Joseph Konowiecki sold 25,000 shares on July 1 at an average price of $24.00, totaling $600,000. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- After the sale, Konowiecki still held 1,103,816 shares valued at about $26.5 million, reducing his ownership by 2.21%. The stock was trading near its 52-week high of $24.12.
- Alignment Healthcare recently reported better-than-expected quarterly results, posting EPS of $0.05 versus the $0.01 estimate and revenue of $1.24 billion, up 33.3% year over year. Analysts currently rate the stock a “Moderate Buy” with an average target price of $24.30.
Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) EVP Joseph Konowiecki sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the sale, the executive vice president directly owned 1,103,816 shares of the company's stock, valued at $26,491,584. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alignment Healthcare Price Performance
ALHC opened at $24.01 on Thursday. The business has a fifty day moving average of $18.91 and a 200 day moving average of $19.67. The stock has a market cap of $4.96 billion, a P/E ratio of 266.78, a PEG ratio of 3.21 and a beta of 1.04. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $24.12.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. The business had revenue of $1.24 billion for 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%.The business's revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.
Institutional Trading of Alignment Healthcare
Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Alignment Healthcare by 8.9% during the 4th quarter. Allworth Financial LP now owns 6,917 shares of the company's stock worth $137,000 after acquiring an additional 566 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Alignment Healthcare by 6.0% in the 4th quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company's stock valued at $223,000 after purchasing an additional 636 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Alignment Healthcare by 6.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company's stock valued at $196,000 after purchasing an additional 665 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company's stock worth $33,000 after purchasing an additional 773 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Alignment Healthcare by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 18,094 shares of the company's stock worth $253,000 after purchasing an additional 852 shares during the period. 86.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on ALHC shares. Wall Street Zen raised shares of Alignment Healthcare from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Raymond James Financial set a $22.00 target price on shares of Alignment Healthcare in a research report on Thursday, May 7th. Barclays decreased their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 26th. Zacks Research upgraded Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings raised Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.30.
Check Out 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.
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