Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $11,997.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 1,333 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $9.00, for a total value of $11,997.00. Following the sale, the insider now owns 405,579 shares in the company, valued at approximately $3,650,211. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Alignment Healthcare Stock Up 3.9 %

Shares of NASDAQ ALHC traded up $0.34 during trading hours on Tuesday, hitting $9.17. The stock had a trading volume of 677,296 shares, compared to its average volume of 944,135. The company has a market capitalization of $1.75 billion, a P/E ratio of -11.10 and a beta of 1.43. The firm’s 50-day moving average price is $8.34 and its two-hundred day moving average price is $6.76. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $10.16. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $681.29 million during the quarter, compared to analysts’ expectations of $637.66 million. Alignment Healthcare had a negative return on equity of 95.55% and a negative net margin of 6.85%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) EPS. Analysts anticipate that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALHC. Stephens boosted their price objective on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday. Stifel Nicolaus upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Robert W. Baird assumed coverage on Alignment Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, TD Cowen upped their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $9.95.

Institutional Investors Weigh In On Alignment Healthcare

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Alignment Healthcare by 3.7% during the third quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock worth $63,303,000 after buying an additional 322,661 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alignment Healthcare by 123.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 36,236 shares of the company’s stock worth $312,000 after buying an additional 20,030 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alignment Healthcare by 18.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after buying an additional 4,862 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alignment Healthcare by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after purchasing an additional 10,123 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

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.