Alignment Healthcare (NASDAQ:ALHC) Sees Strong Trading Volume After Strong Earnings

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) saw strong trading volume on Friday following a better than expected earnings announcement. 1,569,305 shares were traded during trading, a decline of 12% from the previous session's volume of 1,778,009 shares.The stock last traded at $14.55 and had previously closed at $16.77.

The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company's revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) earnings per share.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ALHC shares. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Stifel Nicolaus lifted their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Robert W. Baird upped their price target on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Finally, UBS Group increased their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.17.

Insider Activity

In related news, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the sale, the president now directly owns 1,576,097 shares of the company's stock, valued at approximately $21,624,050.84. This represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher J. Joyce sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the insider now directly owns 390,022 shares in the company, valued at $6,579,671.14. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,181,855 shares of company stock valued at $35,166,057 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Alignment Healthcare by 249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock valued at $3,407,000 after buying an additional 205,705 shares during the last quarter. Barclays PLC boosted its position in Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after acquiring an additional 114,191 shares during the period. US Bancorp DE grew its stake in shares of Alignment Healthcare by 6,544.2% in the fourth quarter. US Bancorp DE now owns 98,932 shares of the company's stock worth $1,113,000 after purchasing an additional 97,443 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at $732,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Alignment Healthcare during the fourth quarter valued at about $184,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Down 1.3 %

The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -20.15 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm's fifty day moving average is $17.36 and its two-hundred day moving average is $14.35.

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.