Alignment Healthcare (NASDAQ:ALHC) Trading Up 5.5%

Alignment Healthcare, Inc. (NASDAQ:ALHC) was up 5.5% during mid-day trading on Tuesday . The company traded as high as $5.00 and last traded at $4.97. Approximately 151,775 shares changed hands during trading, a decline of 82% from the average daily volume of 859,420 shares. The stock had previously closed at $4.71.

Analyst Ratings Changes

A number of analysts have issued reports on ALHC shares. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Raymond James boosted their target price on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. Stephens boosted their target price on Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Barclays assumed coverage on Alignment Healthcare in a report on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 target price for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $6.00 target price (down from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.61.

Alignment Healthcare Price Performance

The stock has a market cap of $944.90 million, a price-to-earnings ratio of -6.42 and a beta of 1.30. The company has a 50-day moving average of $5.49 and a 200-day moving average of $6.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.84 and a current ratio of 1.84.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $465.39 million during the quarter, compared to analyst estimates of $444.56 million. Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The business’s revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.31) EPS. As a group, equities research analysts predict that Alignment Healthcare, Inc. will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao purchased 103,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the acquisition, the chief executive officer now owns 2,745,253 shares in the company, valued at $13,232,119.46. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 90,213 shares of company stock worth $460,587. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Alignment Healthcare by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,146,210 shares of the company’s stock valued at $78,749,000 after buying an additional 24,778 shares in the last quarter. Barclays PLC lifted its stake in Alignment Healthcare by 107.0% in the 4th quarter. Barclays PLC now owns 182,808 shares of the company’s stock valued at $1,573,000 after buying an additional 94,498 shares in the last quarter. Wolverine Trading LLC purchased a new stake in Alignment Healthcare in the 4th quarter valued at approximately $122,000. Occudo Quantitative Strategies LP lifted its stake in Alignment Healthcare by 72.5% in the 4th quarter. Occudo Quantitative Strategies LP now owns 72,313 shares of the company’s stock valued at $623,000 after buying an additional 30,398 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Alignment Healthcare by 87.5% during the 4th quarter. Royal Bank of Canada now owns 32,403 shares of the company’s stock worth $278,000 after purchasing an additional 15,121 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.