Alignment Healthcare (NASDAQ:ALHC - Get Free Report) announced its earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01), Briefing.com reports. The firm had revenue of $628.60 million during the quarter, compared to analysts' expectations of $599.75 million. Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. Alignment Healthcare's revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) earnings per share.
Alignment Healthcare Stock Performance
NASDAQ:ALHC traded up $1.37 during mid-day trading on Friday, hitting $6.63. The stock had a trading volume of 3,023,068 shares, compared to its average volume of 898,686. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -8.39 and a beta of 1.23. The company has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $6.55. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $9.20. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ALHC shares. UBS Group reduced their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a "neutral" rating on the stock in a research note on Wednesday, February 28th. Stifel Nicolaus reduced their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday, April 23rd. Stephens increased their price objective on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Friday. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Finally, Piper Sandler reiterated a "neutral" rating and set a $6.00 price objective (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare presently has an average rating of "Hold" and an average target price of $8.83.
Read Our Latest Stock Analysis on Alignment Healthcare
Insider Activity at Alignment Healthcare
In related news, CFO Robert Thomas Freeman sold 11,858 shares of Alignment Healthcare stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $4.89, for a total value of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at approximately $4,392,334.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 11,858 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at approximately $4,392,334.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao purchased 103,000 shares of the company's stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, the chief executive officer now directly owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. Insiders have sold a total of 90,213 shares of company stock worth $460,587 in the last ninety days. 6.30% of the stock is owned by insiders.
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
