Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) insider Robert L. Scavo sold 40,863 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $15.20, for a total value of $621,117.60. Following the transaction, the insider now directly owns 602,090 shares in the company, valued at $9,151,768. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Alignment Healthcare Stock Performance
Alignment Healthcare stock traded down $0.14 during midday trading on Friday, hitting $14.94. The stock had a trading volume of 1,581,551 shares, compared to its average volume of 2,049,401. Alignment Healthcare, Inc. has a 52-week low of $7.05 and a 52-week high of $21.06. The company has a market capitalization of $2.96 billion, a PE ratio of -19.40 and a beta of 1.22. The firm's fifty day moving average is $16.37 and its two-hundred day moving average is $14.92. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The firm had revenue of $926.93 million during the quarter, compared to analysts' expectations of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company's revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.25) earnings per share. On average, research analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.
Institutional Investors Weigh In On Alignment Healthcare
A number of institutional investors have recently bought and sold shares of the business. MCF Advisors LLC lifted its position in shares of Alignment Healthcare by 87.6% in the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after acquiring an additional 1,011 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Alignment Healthcare during the 1st quarter valued at approximately $42,000. Amalgamated Bank lifted its holdings in Alignment Healthcare by 21.6% in the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after purchasing an additional 616 shares in the last quarter. RiverPark Advisors LLC bought a new position in Alignment Healthcare in the 4th quarter worth approximately $106,000. Finally, Tower Research Capital LLC TRC boosted its stake in Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after purchasing an additional 6,286 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Barclays upped their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Friday, February 28th. Stephens upgraded shares of Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Finally, William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.17.
View Our Latest Research Report on Alignment Healthcare
About Alignment Healthcare
(
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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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