Alignment Healthcare slips as General Atlantic cashes out

Senior healthcare provider Alignment Healthcare's ALHC.O shares down 2.8% at $19.10 before the bell as private equity firm General Atlantic exits

Orange, California-based ALHC last Mon announced 13.2 mln share secondary offering at $19.46, equating to about $256.2 mln gross proceeds

Offering price represents 0.1% discount to stock's last close

General Atlantic offloads remaining ~6.5% stake with the sale, per LSEG data

ALHC has ~204.3 mln shares outstanding for $4 bln market cap

JP Morgan is the underwriter for offering

Through Mon, ALHC shares down 0.5% YTD though up 20% over the past six months

11 of 13 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT $26 - LSEG