Robert Thomas Freeman, the Chief Financial Officer of Alignment Healthcare, Inc. (NASDAQ:ALHC), has sold a total of 28,522 shares of common stock, with the transactions amounting to over $144,000. The sale took place on March 19, 2024, as revealed by a recent regulatory filing with the SEC.
The shares were sold at a weighted-average price of $5.0508, with individual transactions occurring at prices ranging from $4.48 to $5.58 per share. This range of prices indicates a varied execution of sales throughout the trading window.
According to the details provided in the filing, the sale was not a discretionary trade but was required to cover tax withholding obligations related to the grant of immediately vested common stock that Freeman acquired on March 13, 2024. The shares sold were part of a mandatory process to satisfy the tax requirements associated with the stock grant.
Following the sale, Freeman still holds a significant stake in the company, with 869,706 shares of common stock remaining in his direct ownership. Additionally, he is an indirect beneficiary of FCO Holdings LLC, which holds 519,429 shares of Alignment Healthcare, Inc.
Investors and followers of Alignment Healthcare, Inc. can request detailed information about the specific number of shares sold at each price point within the reported range, should they require it for their analysis or records.
The transactions were conducted in accordance with SEC regulations, and the filing provides transparency regarding the stock dealings of one of the company's top executives. Alignment Healthcare, Inc. continues to comply with all necessary legal disclosures as part of its commitment to corporate governance and shareholder communication.
InvestingPro Insights
Amidst the recent sale of Alignment Healthcare, Inc. (NASDAQ:ALHC) shares by CFO Robert Thomas Freeman, investors are closely monitoring the company's financial health and market performance. As of the latest data, Alignment Healthcare holds a market capitalization of approximately $916.54 million. Despite the company's significant revenue growth over the last twelve months, with a 27.16% increase, challenges are evident as indicated by a negative price-to-earnings (P/E) ratio of -6.15, and a price-to-book (P/B) ratio of 5.84, which suggests that the market currently values the company at a premium relative to its book value.
Alignment Healthcare does not currently pay a dividend, and according to InvestingPro Tips, the company holds more cash than debt on its balance sheet, which may provide a buffer in uncertain market conditions. However, it's noteworthy that analysts have revised their earnings expectations downwards for the upcoming period and do not anticipate the company to be profitable this year. Additionally, the stock has experienced a significant decline over the last three months, with a -45.19% price total return.
For investors seeking a more comprehensive analysis, there are 8 additional InvestingPro Tips available for Alignment Healthcare, which can be found at https://www.investing.com/pro/ALHC. This deeper dive could be particularly valuable in light of the company's recent insider transactions and market activity. Interested readers can also take advantage of an exclusive offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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