Alignment Healthcare Sees Unusually Large Options Volume (NASDAQ:ALHC)

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.

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

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.