Alignment Healthcare (NASDAQ:ALHC) Trading Up 5.5%

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALHC shares. Stifel Nicolaus initiated coverage on shares of Alignment Healthcare in a report on Wednesday, January 24th. They issued a “buy” rating and a $11.00 target price for the company. Raymond James raised their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 9th. Stephens raised their price target on shares of Alignment Healthcare from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $6.00 price target (down previously from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Finally, Barclays assumed coverage on shares of Alignment Healthcare in a research report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.61.

Alignment Healthcare Stock Performance

The business’s 50-day moving average price is $5.43 and its 200-day moving average price is $6.69. The stock has a market cap of $935.44 million, a PE ratio of -6.27 and a beta of 1.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 75.64% and a negative net margin of 8.12%. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.31) earnings per share. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert Thomas Freeman sold 28,522 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total value of $144,036.10. Following the completion of the sale, the chief financial officer now directly owns 869,706 shares in the company, valued at approximately $4,392,015.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 28,522 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the sale, the chief financial officer now directly owns 869,706 shares in the company, valued at approximately $4,392,015.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the sale, the insider now owns 1,830,008 shares of the company’s stock, valued at $9,955,243.52. The disclosure for this sale can be found here. Insiders sold 90,213 shares of company stock worth $460,587 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of ALHC. Durable Capital Partners LP lifted its stake in Alignment Healthcare by 2,079.2% during the 1st quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock valued at $66,349,000 after acquiring an additional 5,637,102 shares during the period. Vanguard Group Inc. increased its holdings in shares of Alignment Healthcare by 25.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,117,393 shares of the company’s stock valued at $96,111,000 after purchasing an additional 1,626,831 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Alignment Healthcare by 15.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,470,181 shares of the company’s stock valued at $99,610,000 after purchasing an additional 1,108,973 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Alignment Healthcare by 21.8% during the 3rd quarter. BlackRock Inc. now owns 5,698,621 shares of the company’s stock valued at $67,471,000 after purchasing an additional 1,020,637 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at approximately $11,601,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.