Alignment Healthcare (NASDAQ:ALHC) Shares Down 4.5% – What’s Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC) fell 4.5% during mid-day trading on Wednesday . The company traded as low as $11.12 and last traded at $11.19. 634,217 shares were traded during mid-day trading, a decline of 38% from the average session volume of 1,017,845 shares. The stock had previously closed at $11.72.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALHC. Piper Sandler reissued an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. TD Cowen increased their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp started coverage on Alignment Healthcare in a report on Friday. They set a “sector weight” rating for the company. Robert W. Baird increased their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Barclays lifted their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Stock Performance

The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $2.19 billion, a PE ratio of -13.98 and a beta of 1.47. The firm’s 50 day moving average price is $9.98 and its 200-day moving average price is $8.06.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. Alignment Healthcare’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.15) earnings per share. On average, research analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the transaction, the chief executive officer now owns 2,543,100 shares in the company, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Dawn Christine Maroney sold 7,074 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares in the company, valued at $16,136,987.46. This represents a 0.00 % 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 link. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,895 shares of company stock worth $4,621,859 in the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in shares of Alignment Healthcare in the 1st quarter valued at approximately $57,000. Virtu Financial LLC purchased a new position in Alignment Healthcare during the 1st quarter valued at about $57,000. Allspring Global Investments Holdings LLC boosted its holdings in Alignment Healthcare by 9.2% during the 1st 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 during the period. Mackenzie Financial Corp increased its stake in Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after purchasing an additional 19,129 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after purchasing an additional 9,595 shares during the period. Institutional investors and hedge funds 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.