Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s stock price fell 4.5% during mid-day trading on Wednesday . The stock traded as low as $13.28 and last traded at $13.57. 761,998 shares traded hands during trading, a decline of 65% from the average session volume of 2,154,117 shares. The stock had previously closed at $14.21.
Analysts Set New Price Targets
Several brokerages have recently weighed in on ALHC. Stifel Nicolaus increased their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Piper Sandler boosted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Finally, Robert W. Baird raised their price target 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 analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $17.17.
Check Out Our Latest Stock Report on ALHC
Alignment Healthcare Stock Performance
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 firm has a 50 day moving average price of $15.15 and a 200 day moving average price of $15.08. The stock has a market cap of $2.69 billion, a PE ratio of -28.35 and a beta of 1.16.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The company had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. During the same period in the prior year, the business earned ($0.25) EPS. The firm's quarterly revenue was up 47.5% on a year-over-year basis. As a group, research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.
Insider Buying and Selling at Alignment Healthcare
In other news, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $14.84, for a total value of $1,335,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,913,100 shares of the company's stock, valued at approximately $28,390,404. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert L. Scavo sold 60,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.60, for a total value of $876,000.00. Following the sale, the insider owned 642,953 shares of the company's stock, valued at $9,387,113.80. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,795,262 shares of company stock valued at $272,980,496. 7.00% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Alignment Healthcare
A number of large investors have recently added to or reduced their stakes in ALHC. MCF Advisors LLC grew its position in shares of Alignment Healthcare by 87.6% in the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after buying an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Alignment Healthcare in the first quarter valued at approximately $42,000. Amalgamated Bank grew its holdings in Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after purchasing an additional 616 shares during the last quarter. RiverPark Advisors LLC purchased a new position in Alignment Healthcare in the fourth quarter worth $106,000. Finally, Regal Partners Ltd acquired a new position in shares of Alignment Healthcare during the first quarter worth $194,000. 86.19% of the stock is currently owned by institutional investors.
About Alignment Healthcare
(
Get Free Report)
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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