Robert Thomas Freeman, the Chief Monetary Officer of Alignment Healthcare, Inc. (NASDAQ:ALHC), has lately bought a major variety of shares within the firm, based on the newest SEC filings. The transactions, which came about on October 1st and 2nd, concerned the gross sales of widespread inventory totaling over $328,000.
Freeman bought 12,200 shares at a weighted common worth of $10.1147, with particular person costs starting from $10.00 to $10.99 per share. Moreover, 9,175 shares had been bought at a median of $11.3814 every, with the value per share various between $11.00 and $11.86. On the next day, one other batch of 9,125 shares was bought, this time at a median worth of $11.0063, with the transactions occurring inside a worth vary of $11.00 to $11.04 per share.
The gross sales have resulted in a discount of Freeman’s direct holdings in Alignment Healthcare, however he stays not directly concerned by securities held by FCO Holdings LLC, which is owned by FCO Holdings Belief One, an irrevocable belief the place Mr. Freeman is an oblique beneficiary.
Traders typically monitor insider transactions comparable to these for insights into govt sentiment relating to their firm’s inventory. These gross sales are a part of the general public report and supply transparency into the monetary actions of company insiders.
For these within the specifics of the transactions, together with the exact variety of shares bought at every worth level inside the ranges offered, the reporting individual has agreed to furnish detailed data to Alignment Healthcare, Inc., its safety holders, or the SEC workers upon request.
The transactions detailed within the SEC filings replicate a notable change within the CFO’s stake within the firm and are actually a part of the general public report for present and potential buyers to contemplate.
In different latest information, Alignment Healthcare has reported a major reshuffling of its board. Two members, Jeffrey Margolis and Thomas Carella, have resigned, with Margolis transitioning to a consulting function. The board dimension has been decreased from eleven to 9, and Margaret McCarthy’s place was shifted from a Class I director to a Class III director. The corporate additionally reported a 56% enhance in well being plan membership and a 47% surge in income year-over-year. Consequently, Baird, TD Cowen, and Piper Sandler have all raised their inventory worth targets for Alignment Healthcare. These latest developments proceed to form the trajectory of Alignment Healthcare.
InvestingPro Insights
To offer extra context to Robert Thomas Freeman’s latest inventory gross sales, let’s study some key monetary metrics and insights from InvestingPro for Alignment Healthcare, Inc. (NASDAQ:ALHC).
As of the newest information, Alignment Healthcare boasts a market capitalization of $2.07 billion. The corporate has demonstrated robust income progress, with a 37.46% enhance within the final twelve months as of Q2 2024, reaching $2.23 billion. This progress trajectory is much more pronounced within the quarterly figures, exhibiting a 47.34% income enhance in Q2 2024.
Regardless of this spectacular top-line progress, InvestingPro Ideas spotlight that Alignment Healthcare is just not at present worthwhile, with a unfavourable P/E ratio of -13.76 for the final twelve months. This aligns with one other InvestingPro Tip indicating that analysts don’t anticipate the corporate to be worthwhile this 12 months.
Apparently, whereas the CFO has been promoting shares, the inventory has proven outstanding efficiency. InvestingPro information reveals a considerable 143.18% worth complete return over the previous six months, and a 54.84% return during the last 12 months. This robust market efficiency would possibly clarify the timing of the insider gross sales, as executives typically liquidate parts of their holdings after vital worth appreciation.
It is price noting that InvestingPro Ideas additionally level out that Alignment Healthcare operates with a average degree of debt and doesn’t pay a dividend to shareholders, which isn’t unusual for growth-focused firms within the healthcare sector.
For buyers in search of a extra complete evaluation, InvestingPro affords 10 extra ideas for Alignment Healthcare, offering a deeper dive into the corporate’s monetary well being and market place.
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