Alignment Healthcare (NASDAQ:ALHC) Trading 5.5% Higher

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s stock price was up 5.5% during mid-day trading on Tuesday . The company traded as high as $5.00 and last traded at $4.97. Approximately 151,775 shares were traded during trading, a decline of 82% from the average daily volume of 859,420 shares. The stock had previously closed at $4.71.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALHC. Barclays assumed coverage on Alignment Healthcare in a research note on Wednesday, March 6th. They issued an "underweight" rating and a $4.50 price target for the company. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Stephens upped their price objective on shares of Alignment Healthcare from $10.00 to $10.50 and gave the stock an "equal weight" rating in a research report on Tuesday, January 9th. Piper Sandler reissued a "neutral" rating and issued a $6.00 target price (down from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Finally, Stifel Nicolaus began coverage on shares of Alignment Healthcare in a research report on Wednesday, January 24th. They issued a "buy" rating and a $11.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare has an average rating of "Moderate Buy" and a consensus price target of $9.61.

Alignment Healthcare Stock Performance

The company has a fifty day moving average of $5.49 and a two-hundred day moving average of $6.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $926.00 million, a price-to-earnings ratio of -6.33 and a beta of 1.30.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The firm had revenue of $465.39 million for the quarter, compared to the consensus estimate of $444.56 million. During the same quarter last year, the firm posted ($0.31) earnings per share. The business's revenue for the quarter was up 28.6% on a year-over-year basis. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.59 EPS for the current year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now directly owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Robert Thomas Freeman sold 11,858 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the completion of the sale, the chief financial officer now directly owns 898,228 shares of the company's stock, valued at approximately $4,392,334.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dawn Christine Maroney sold 23,000 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the transaction, the insider now directly owns 1,830,008 shares in the company, valued at $9,955,243.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,213 shares of company stock worth $460,587. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank grew its position in Alignment Healthcare by 7.3% in the 1st quarter. Swiss National Bank now owns 88,500 shares of the company's stock valued at $994,000 after purchasing an additional 6,000 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Alignment Healthcare by 7.7% in the first quarter. Principal Financial Group Inc. now owns 14,524 shares of the company's stock valued at $163,000 after buying an additional 1,034 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Alignment Healthcare by 55.4% during the first quarter. MetLife Investment Management LLC now owns 45,938 shares of the company's stock valued at $516,000 after buying an additional 16,380 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Alignment Healthcare by 4.2% during the first quarter. Panagora Asset Management Inc. now owns 154,586 shares of the company's stock worth $1,736,000 after acquiring an additional 6,178 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Alignment Healthcare by 13.0% in the 1st quarter. Rhumbline Advisers now owns 78,349 shares of the company's stock worth $880,000 after acquiring an additional 9,042 shares during the last quarter. Institutional investors own 86.19% of the company's stock.

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.