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

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock 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.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ALHC shares. TD Cowen increased their target price on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Barclays upped their price target on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Stifel Nicolaus lifted their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. 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 report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Stock Performance

The stock’s fifty day moving average price is $9.47 and its two-hundred day moving average price is $7.50. The company 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 debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last issued 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 firm had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. During the same quarter last year, the business posted ($0.15) EPS. The company’s revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts predict that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 14,500 shares of the stock in a transaction dated 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 $3,173,148. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alignment Healthcare news, insider Hakan Kardes sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $11.48, for a total value of $287,000.00. Following the completion of the transaction, the insider now owns 380,444 shares of the company’s stock, valued at approximately $4,367,497.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 14,500 shares of the stock in a transaction dated 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 $3,173,148. 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 over the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C raised its position in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after buying an additional 1,507,759 shares during the period. Hood River Capital Management LLC raised its position in shares of Alignment Healthcare by 49.6% during the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after acquiring an additional 968,637 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Alignment Healthcare by 16.8% in the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after acquiring an additional 225,000 shares during the period. Finally, AQR Capital Management LLC acquired a new position in shares of Alignment Healthcare in the second quarter worth approximately $1,512,000. Institutional investors and hedge funds 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.