Alignment Healthcare (NASDAQ:ALHC) Trading Up 5.5%

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) rose 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 changed hands during mid-day trading, a decline of 82% from the average daily volume of 859,420 shares. The stock had previously closed at $4.71.

Wall Street Analyst Weigh In

ALHC has been the topic of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $6.00 price objective (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Barclays initiated coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price objective on the stock. Raymond James increased their target price on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 9th. Finally, Stephens increased their target price on shares of Alignment Healthcare from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.61.

Alignment Healthcare Trading Up 6.2 %

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. The business’s fifty day moving average is $5.49 and its 200 day moving average is $6.72. The firm has a market capitalization of $944.90 million, a price-to-earnings ratio of -6.42 and a beta of 1.30.

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

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the sale, the insider now directly owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the sale, the insider now directly owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao acquired 103,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $4.82 per share, with a total value of $496,460.00. Following the transaction, the chief executive officer now owns 2,745,253 shares in the company, valued at $13,232,119.46. The disclosure for this purchase can be found here. In the last three months, insiders have sold 90,213 shares of company stock worth $460,587. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALHC. Principal Financial Group Inc. boosted its holdings in shares of Alignment Healthcare by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 14,524 shares of the company’s stock worth $163,000 after buying an additional 1,034 shares during the period. Legal & General Group Plc boosted its holdings in shares of Alignment Healthcare by 1.5% during the 4th quarter. Legal & General Group Plc now owns 71,676 shares of the company’s stock worth $843,000 after buying an additional 1,066 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Alignment Healthcare by 5.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,579 shares of the company’s stock worth $372,000 after buying an additional 1,658 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of 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 buying an additional 1,962 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Alignment Healthcare by 20.9% during the 4th quarter. Amalgamated Bank now owns 16,412 shares of the company’s stock worth $193,000 after buying an additional 2,837 shares during the period. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.