In a recent transaction with Alignment Healthcare, Inc. (NASDAQ:ALHC), Chief Information Officer Robert L. Scavo sold 3,078 shares of the company's common stock. The transaction was executed on March 19, 2024, with the shares being sold at a weighted-average price of $5.0508, totaling over $15,546.
The sales took place in a series of transactions with prices ranging from $4.48 to $5.58 per share. This range indicates the varying prices at which the stock was sold in the market. The sale was not a discretionary trade by Scavo but was instead required to cover tax withholding obligations related to immediately vested common stock granted to him.
Following the transaction, Scavo still holds a significant stake in the company, with 438,643 shares remaining in his possession. This indicates a continued vested interest in the company's performance and alignment with shareholder interests.
Investors and followers of Alignment Healthcare, Inc. may request detailed information about the distribution of shares sold at each specific price point within the provided range if needed. This sale represents a notable change in Scavo's holdings and may be of interest to current and potential investors monitoring insider activity within the company.
InvestingPro Insights
Following the recent insider transaction involving Alignment Healthcare, Inc. (NASDAQ:ALHC), investors may want to consider several key metrics and insights from InvestingPro to better understand the company's financial position and market performance.
One notable InvestingPro Tip is that Alignment Healthcare holds more cash than debt on its balance sheet. This could be a reassuring sign for investors, as it suggests the company has a solid liquidity position that could help weather potential market downturns or invest in growth opportunities.
Moreover, the company is trading at a high Price / Book multiple of 5.84, as of the last twelve months ending Q4 2023, which might indicate that the stock is priced optimistically relative to its book value. This could be relevant for value-oriented investors who are assessing the company's market valuation.
Despite experiencing significant revenue growth of 27.16% over the last twelve months, as of Q4 2023, Alignment Healthcare is not currently profitable, with an adjusted P/E Ratio of -6.25. This lack of profitability, coupled with a 45.19% decline in the stock's price over the last three months, could be a point of caution for investors.
For those looking to delve deeper into the financials and forecasts for Alignment Healthcare, there are additional InvestingPro Tips available. These include insights on earnings revisions, revenue valuation multiples, and profitability expectations. Interested investors can find these tips and more on the InvestingPro platform, and can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 9 InvestingPro Tips listed for Alignment Healthcare, there's a wealth of information to explore.
Overall, the recent insider sale by Chief Information Officer Robert L. Scavo is just one piece of the puzzle. By considering these InvestingPro Insights, investors can gain a more comprehensive view of Alignment Healthcare's financial health and market position.
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