Alignment Healthcare (NASDAQ:ALHC) Sees Strong Trading Volume on Analyst Upgrade

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares saw strong trading volume on Thursday after Barclays raised their price target on the stock from $7.00 to $8.00. Barclays currently has an underweight rating on the stock. 632,003 shares were traded during mid-day trading, a decline of 38% from the previous session’s volume of 1,019,669 shares.The stock last traded at $11.75 and had previously closed at $11.73.

ALHC has been the topic of several other reports. Robert W. Baird increased their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp assumed coverage on Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, TD Cowen upped 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. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Insider Activity

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the sale, the insider now directly owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Robert Thomas Freeman sold 4,483 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total value of $53,840.83. Following the sale, the chief financial officer now directly owns 159,626 shares in the company, valued at $1,917,108.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 7,074 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total value of $63,807.48. Following the transaction, the insider now directly owns 1,789,023 shares of the company’s stock, valued at $16,136,987.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,287 shares of company stock worth $3,964,670 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% in 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. Principal Financial Group Inc. acquired a new stake in Alignment Healthcare in the 1st quarter valued at $57,000. Blue Trust Inc. lifted its position in Alignment Healthcare by 47.4% during the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock worth $1,272,000 after buying an additional 82,476 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after buying an additional 93,262 shares during the last quarter. Finally, Hood River Capital Management LLC grew its holdings in shares of Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after acquiring an additional 968,637 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 5.7 %

The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -16.10 and a beta of 1.47. 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 business has a 50-day moving average of $10.74 and a 200-day moving average of $8.73.

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

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.