Alignment Healthcare (NASDAQ:ALHC) Trading Up 3.2%

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their target price for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Finally, TD Cowen boosted their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Price Performance

The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The company has a fifty 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 posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $681.29 million during the quarter, compared to analysts’ expectations of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. Alignment Healthcare’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) earnings per share. Sell-side analysts predict that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,034 shares of Alignment Healthcare stock in a transaction that occurred on Monday, July 15th. The stock was 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 in the company, valued at $3,682,553.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Joseph S. Konowiecki sold 22,400 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $9.06, for a total value of $202,944.00. Following the completion of the transaction, the chairman now directly owns 1,233,221 shares of the company’s stock, valued at $11,172,982.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher J. Joyce sold 15,034 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the sale, the insider now directly owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The disclosure for this sale can be found here. Insiders have sold a total of 268,639 shares of company stock worth $2,676,719 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of 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 purchasing an additional 1,962 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after purchasing an additional 2,077 shares in the last quarter. Aigen Investment Management LP boosted its stake in Alignment Healthcare by 18.5% in the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares during the period. Allspring Global Investments Holdings LLC grew 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 buying an additional 3,334 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Alignment Healthcare by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after buying an additional 9,595 shares in the last quarter. Hedge funds and other 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.