Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down to $11.43

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price gapped down before the market opened on Monday . The stock had previously closed at $11.43, but opened at $11.17. Alignment Healthcare shares last traded at $11.30, with a volume of 83,286 shares traded.

Analyst Ratings Changes

ALHC has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird boosted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Bank of America raised shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $7.75 to $11.00 in a research report on Thursday, May 30th. TD Cowen lifted their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Alignment Healthcare Stock Performance

The firm has a market cap of $2.14 billion, a P/E ratio of -13.39 and a beta of 1.43. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. The company’s 50-day moving average is $9.47 and its two-hundred day moving average is $7.50.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. During the same quarter last year, the company earned ($0.15) earnings per share. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, equities analysts predict that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,034 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the sale, the insider now directly owns 406,912 shares of the company’s stock, valued at approximately $3,682,553.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christopher J. Joyce sold 15,034 shares of Alignment Healthcare stock in a transaction on Monday, July 15th. The stock was sold at an average price of $9.05, for a total transaction of $136,057.70. Following the sale, the insider now directly owns 406,912 shares in the company, valued at $3,682,553.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Thomas Freeman sold 14,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $174,000.00. Following the completion of the transaction, the chief financial officer now owns 264,429 shares of the company’s stock, valued at approximately $3,173,148. The disclosure for this sale can be found here. Insiders have sold 268,639 shares of company stock valued at $2,676,719 in the last three months. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Alignment Healthcare

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Alignment Healthcare during the 1st quarter valued at approximately $57,000. Principal Financial Group Inc. bought a new position in Alignment Healthcare during the first quarter valued at $57,000. Victory Capital Management Inc. increased its position in Alignment Healthcare by 17.9% in the fourth 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 last quarter. Aigen Investment Management LP raised 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 valued at $170,000 after buying an additional 3,092 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 buying an additional 3,334 shares during the last quarter. Hedge funds and other 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.