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

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

Wall Street Analysts Forecast Growth

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

Alignment Healthcare Stock Down 3.7%

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $2.65 billion, a PE ratio of -27.99 and a beta of 1.16. The company's 50 day moving average is $14.77 and its two-hundred day moving average is $15.19.

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

Insiders Place Their Bets

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $14.48, for a total transaction of $434,400.00. Following the sale, the president owned 2,072,899 shares of the company's stock, valued at approximately $30,015,577.52. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the director owned 44,302,175 shares in the company, valued at $676,937,234. This represents a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,795,262 shares of company stock valued at $272,980,496. Insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently modified their holdings of the business. Northern Trust Corp lifted its position in Alignment Healthcare by 8.6% during the fourth quarter. Northern Trust Corp now owns 908,964 shares of the company's stock valued at $10,226,000 after purchasing an additional 72,063 shares during the period. GAMMA Investing LLC boosted its stake in Alignment Healthcare by 3,216.9% during the first quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock worth $443,000 after buying an additional 23,097 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $732,000. Proficio Capital Partners LLC purchased a new stake in Alignment Healthcare in the 4th quarter valued at about $184,000. Finally, Ameriprise Financial Inc. acquired a new position in Alignment Healthcare during the fourth quarter worth $14,155,000. 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.

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