Sebastian Burzacchi, the Chief Operating Officer of Management Services Organization at Alignment Healthcare Inc. (NASDAQ:ALHC), recently sold 8,550 shares of the company's common stock. The shares were sold at a price of $11.26 each, totaling $96,273. The stock has shown strong momentum, gaining nearly 39% over the past six months, according to InvestingPro data. This transaction was executed on December 10, 2024, and was necessary to cover tax withholding obligations related to the vesting of restricted stock units, rather than a discretionary trade by Burzacchi. Following this sale, Burzacchi holds 217,395 shares of Alignment Healthcare. InvestingPro analysis shows the company maintains a "GOOD" Financial Health score, with analyst price targets ranging from $8 to $17. Discover more insights and 8 additional ProTips with an InvestingPro subscription.
In other recent news, Alignment Healthcare has been the subject of positive financial updates. The company's third quarter of 2024 saw robust growth, with a 58% increase in health plan membership and a 52% rise in total revenue, reaching $692 million. The adjusted EBITDA turned positive at $6 million, marking a second consecutive quarter of profitability. Moreover, the company is projecting at least 20% growth in 2025, with an expected adjusted EBITDA of approximately $40 million.
In addition to these impressive earnings and revenue results, TD Cowen, a financial services firm, has raised its price target for Alignment Healthcare to $13, up from the previous $10, maintaining a Buy rating on the company's stock. The revised price target was influenced by the company's strong Q3 performance and its promising financial goals for the future.
These recent developments underscore Alignment Healthcare's steady market position and potential for delivering value to shareholders. The company's forward-looking financial goals, combined with its recent quarterly performance, have reinforced TD Cowen's confidence in the company.
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