Alignment Healthcare (NASDAQ:ALHC) Shares Down 5.6%

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) traded down 5.6% on Tuesday . The company traded as low as $9.35 and last traded at $9.37. 177,854 shares traded hands during trading, a decline of 81% from the average session volume of 921,168 shares. The stock had previously closed at $9.93.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.75 to $11.00 in a research report on Thursday, May 30th. Baird R W upgraded Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Piper Sandler raised Alignment Healthcare from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $6.00 to $8.00 in a research note on Wednesday, May 8th. Stephens boosted their target price on Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird initiated coverage on Alignment Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $9.11.

Alignment Healthcare Stock Performance

The company has a market cap of $1.79 billion, a P/E ratio of -11.14 and a beta of 1.43. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.23. The stock has a 50 day moving average price of $8.13 and a two-hundred day moving average price of $6.74.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. Alignment Healthcare’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS. On average, research analysts predict that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alignment Healthcare news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert Thomas Freeman sold 38,858 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $10.01, for a total value of $388,968.58. Following the transaction, the chief financial officer now owns 414,429 shares in the company, valued at approximately $4,148,434.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,221 shares of company stock worth $2,142,155. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently modified their holdings of the business. Jump Financial LLC acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at $575,000. Vanguard Group Inc. boosted its holdings in shares of Alignment Healthcare by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares in the last quarter. Barlow Wealth Partners Inc. acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at $100,000. Assenagon Asset Management S.A. boosted its holdings in shares of Alignment Healthcare by 283.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after purchasing an additional 233,417 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Alignment Healthcare by 18.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after purchasing an additional 4,862 shares in the last quarter. 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.