Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 4.5% - What's Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) shares traded down 4.5% during mid-day trading on Wednesday . The company traded as low as $13.28 and last traded at $13.57. 761,998 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 2,154,117 shares. The stock had previously closed at $14.21.

Wall Street Analysts Forecast Growth

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

Alignment Healthcare Price Performance

The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -29.63 and a beta of 1.16. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.95. The stock has a 50-day simple moving average of $15.01 and a 200 day simple moving average of $15.13.

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

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $14.48, for a total value of $434,400.00. Following the completion of the sale, the president owned 2,072,899 shares of the company's stock, valued at $30,015,577.52. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $15.28, for a total value of $259,760,000.00. Following the completion of the transaction, the director directly owned 44,302,175 shares in the company, valued at $676,937,234. The trade was a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,795,262 shares of company stock worth $272,980,496 over the last quarter. Insiders own 7.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALHC. US Bancorp DE increased its position in Alignment Healthcare by 6,544.2% in the 4th quarter. US Bancorp DE now owns 98,932 shares of the company's stock worth $1,113,000 after buying an additional 97,443 shares during the period. Northern Trust Corp raised its position in shares of Alignment Healthcare by 8.6% during the fourth quarter. Northern Trust Corp now owns 908,964 shares of the company's stock worth $10,226,000 after acquiring an additional 72,063 shares during the last quarter. GAMMA Investing LLC increased its holdings in Alignment Healthcare by 3,216.9% in the first quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock valued at $443,000 after purchasing an additional 23,097 shares during the last quarter. Franklin Resources Inc. acquired a new position in Alignment Healthcare in the fourth quarter valued at about $732,000. Finally, Proficio Capital Partners LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at about $184,000. 86.19% of the stock is owned by institutional investors.

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.