Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of unusually large options trading on Monday. Traders bought 5,030 call options on the stock. This represents an increase of 392% compared to the typical volume of 1,023 call options.
Insiders Place Their Bets
In related news, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $14.84, for a total value of $1,335,600.00. Following the transaction, the chief executive officer directly owned 1,913,100 shares in the company, valued at approximately $28,390,404. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $259,760,000.00. Following the completion of the sale, the director directly 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. Insiders have sold 17,795,262 shares of company stock valued at $272,980,496 in the last ninety days. Corporate insiders own 6.60% of the company's stock.
Hedge Funds Weigh In On Alignment Healthcare
A number of hedge funds have recently modified their holdings of the company. Amalgamated Bank grew its stake in shares of 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. Ballentine Partners LLC grew its position in shares of Alignment Healthcare by 8.6% in the 1st quarter. Ballentine Partners LLC now owns 11,674 shares of the company's stock worth $217,000 after buying an additional 924 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Alignment Healthcare by 87.6% during the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after buying an additional 1,011 shares during the period. Cresset Asset Management LLC raised its holdings in shares of Alignment Healthcare by 0.6% during the first quarter. Cresset Asset Management LLC now owns 287,565 shares of the company's stock valued at $5,354,000 after acquiring an additional 1,797 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company's stock worth $641,000 after acquiring an additional 2,154 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on ALHC shares. Stifel Nicolaus lifted their price objective on shares of 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 report on Monday, June 2nd. UBS Group raised their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Robert W. Baird boosted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.17.
Check Out Our Latest Analysis on Alignment Healthcare
Alignment Healthcare Trading Up 4.3%
Alignment Healthcare stock traded up $0.57 during trading hours on Tuesday, reaching $13.71. The company had a trading volume of 3,209,704 shares, compared to its average volume of 2,202,931. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69. Alignment Healthcare has a 12-month low of $7.62 and a 12-month high of $21.06. The company has a 50-day moving average price of $14.84 and a 200 day moving average price of $15.20. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -28.56 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) 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 the consensus estimate of $889.83 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. The firm's revenue for the quarter was up 47.5% on a year-over-year basis. Equities analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current year.
Alignment Healthcare Company Profile
(
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.
Read More
Before you consider Alignment Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alignment Healthcare wasn't on the list.
While Alignment Healthcare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.