Alignment Healthcare (NASDAQ:ALHC) Shares Up 6.1%

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price was up 6.1% on Monday . The stock traded as high as $8.35 and last traded at $8.30. Approximately 225,859 shares were traded during trading, a decline of 75% from the average daily volume of 904,357 shares. The stock had previously closed at $7.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ALHC shares. Stifel Nicolaus dropped their price target on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Robert W. Baird initiated coverage on Alignment Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price objective on the stock. Stephens lifted their target price on Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, Barclays initiated 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $9.20.

Alignment Healthcare Trading Up 6.0 %

The company has a market cap of $1.59 billion, a PE ratio of -9.88 and a beta of 1.43. The stock’s 50 day moving average is $7.07 and its 200-day moving average is $6.66. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.23.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The company’s revenue was up 43.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.20) EPS. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

Insider Buying and Selling

In related news, insider Christopher J. Joyce sold 16,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher J. Joyce sold 16,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total value of $164,200.00. Following the completion of the sale, the insider now owns 1,956,097 shares in the company, valued at approximately $16,059,556.37. The disclosure for this sale can be found here. Insiders sold a total of 37,200 shares of company stock worth $302,032 over the last three months. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares during the period. Aigen Investment Management LP increased its stake in shares of Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after buying an additional 3,092 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after acquiring an additional 3,334 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alignment Healthcare by 18.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after acquiring an additional 4,862 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alignment Healthcare by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after acquiring an additional 10,123 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.