Alignment Healthcare (NASDAQ:ALHC) Shares Down 4.4% - Time to Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) shares were down 4.4% during mid-day trading on Thursday . The company traded as low as $13.31 and last traded at $13.29. Approximately 749,788 shares changed hands during trading, a decline of 66% from the average daily volume of 2,211,153 shares. The stock had previously closed at $13.90.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALHC shares. UBS Group raised their target price on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Robert W. Baird raised their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Finally, Stifel Nicolaus raised their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.17.

Alignment Healthcare Stock Performance

The stock has a 50-day moving average of $14.65 and a 200-day moving average of $15.26. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -27.85 and a beta of 1.16. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.69 and a current ratio of 1.69.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same quarter last year, the firm earned ($0.25) EPS. Alignment Healthcare's revenue for the quarter was up 47.5% compared to the same quarter last year. As a group, analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the transaction, the director directly owned 44,302,175 shares in the company, valued at approximately $676,937,234. The trade was a 27.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 180,000 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $13.41, for a total transaction of $2,413,800.00. Following the transaction, the chief executive officer owned 1,553,100 shares in the company, valued at approximately $20,827,071. The trade was a 10.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,975,262 shares of company stock valued at $275,394,296 in the last ninety days. Corporate insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC increased its holdings in shares of Alignment Healthcare by 87.6% in the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after purchasing an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Alignment Healthcare in the first quarter valued at $42,000. Amalgamated Bank increased its holdings in shares of Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after purchasing an additional 616 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at $106,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after purchasing an additional 6,286 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.