Alignment Healthcare (NASDAQ:ALHC) Shares Up 3.2%

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares were up 3.2% on Friday . The company traded as high as $11.91 and last traded at $11.75. Approximately 232,180 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 938,130 shares. The stock had previously closed at $11.39.

Wall Street Analyst Weigh In

A number of research firms have commented on ALHC. Piper Sandler reissued an “overweight” rating and issued a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. TD Cowen lifted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and increased their price objective for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. Finally, Robert W. Baird boosted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Trading Up 1.0 %

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 50-day moving average of $9.37 and a 200-day moving average of $7.40. The firm has a market capitalization of $2.20 billion, a P/E ratio of -13.56 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate 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 net margin of 6.85% and a negative return on equity of 101.10%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) earnings per share. On average, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert Thomas Freeman sold 22,100 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $221,000.00. Following the sale, the chief financial officer now directly owns 497,329 shares of the company’s stock, valued at $4,973,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Robert Thomas Freeman sold 22,100 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $221,000.00. Following the completion of the sale, the chief financial officer now owns 497,329 shares of the company’s stock, valued at $4,973,290. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher J. Joyce sold 15,034 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $9.05, for a total transaction of $136,057.70. Following the completion of the sale, the insider now owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,639 shares of company stock valued at $2,676,719. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Alignment Healthcare in the 1st quarter worth $57,000. Principal Financial Group Inc. bought a new position in Alignment Healthcare during the 1st quarter valued at about $57,000. 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 valued at $111,000 after acquiring an additional 1,962 shares during the last quarter. Aigen Investment Management LP grew its stake in shares of Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after acquiring an additional 3,092 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares during the last quarter. 86.19% of the stock is currently 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.