Alignment Healthcare Sees Unusually High Options Volume (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 2,978 call options on the stock. This represents an increase of 106% compared to the typical volume of 1,444 call options.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Cowen lifted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday. UBS Group lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $12.40 on Friday. The company has a market capitalization of $2.37 billion, a PE ratio of -16.10 and a beta of 1.47. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $12.44. The firm has a fifty day simple moving average of $10.74 and a 200 day simple moving average of $8.73.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, sell-side analysts forecast that Alignment Healthcare will post -0.67 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Robert Thomas Freeman sold 36,197 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.04, for a total value of $435,811.88. Following the sale, the chief financial officer now directly owns 123,429 shares of the company’s stock, valued at $1,486,085.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO John E. Kao sold 90,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Thomas Freeman sold 36,197 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.04, for a total value of $435,811.88. Following the sale, the chief financial officer now owns 123,429 shares in the company, valued at $1,486,085.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,287 shares of company stock worth $3,964,670 over the last three months. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the 3rd quarter worth $95,000. Virtu Financial LLC bought a new position in shares of Alignment Healthcare in the first quarter valued at $57,000. Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare during the first quarter valued at about $57,000. Creative Planning increased its holdings in Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after buying an additional 19,129 shares during the last quarter. Institutional investors 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.