Alignment Healthcare, Inc. (NASDAQ:ALHC) President of Markets, Dawn Christine Maroney, recently engaged in transactions involving the company's common stock, according to the latest filings. Maroney sold shares totaling over $105,000, which were required to cover tax withholding obligations.
On March 15, 2024, Maroney sold 21,537 shares of Alignment Healthcare at a weighted average price between $4.77 and $5.06 per share. The total value of the shares sold amounted to approximately $105,339. It's important to note that this sale was not a discretionary trade but was made to satisfy tax withholding requirements connected to the vesting of restricted stock units.
Additionally, Maroney acquired a significant number of shares through various awards. This included 130,000 restricted stock units set to vest over four years, 41,000 fully vested shares awarded by the company's Board of Directors, and 35,890 fully vested shares granted in lieu of cash for the annual incentive award earned for the fiscal year 2023. These acquisitions did not involve any monetary transaction and were valued at $0.00 per share.
After these transactions, Maroney's holdings in Alignment Healthcare's common stock have changed, reflecting her continued commitment to the company. The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, providing transparency into the trading activities of the company's insiders.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's performance and outlook. Alignment Healthcare, Inc. specializes in hospital and medical service plans, and these recent transactions by a top executive are part of the ongoing financial developments within the company.
InvestingPro Insights
As Alignment Healthcare, Inc. (NASDAQ:ALHC) navigates the complexities of the healthcare market, the recent insider transactions by President of Markets, Dawn Christine Maroney, have drawn attention to the company's financial standing. The InvestingPro data and tips provide a deeper understanding of the company's current market position and future prospects.
InvestingPro data shows that Alignment Healthcare has a market capitalization of $943 million and is trading at a high Price / Book multiple of 6.01, as of the last twelve months ending Q4 2023. Despite a significant revenue growth of 27.16% during the same period, the company's P/E Ratio remains negative at -6.43, indicating that it has not been profitable over the last twelve months. This aligns with one of the InvestingPro Tips, which suggests that analysts do not anticipate the company to become profitable this year.
Moreover, the stock has experienced a downward trend, trading near its 52-week low and seeing a one-month price total return of -24.85% as of the date provided. This could be reflective of the concerns raised by another InvestingPro Tip, which notes that 2 analysts have revised their earnings downwards for the upcoming period.
For those interested in further analysis, there are additional InvestingPro Tips available for ALHC, which can offer more detailed insights into the company's financial health and projections. To access these tips and enhance your investment strategy, consider subscribing to InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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