Alignment Healthcare (NASDAQ:ALHC) Shares Down 2.7%

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report)’s share price dropped 2.7% during trading on Wednesday . The company traded as low as $4.66 and last traded at $4.69. Approximately 20,846 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 890,314 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stephens lifted their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $6.00 target price (down from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Barclays initiated coverage on Alignment Healthcare in a research note on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective on the stock. Raymond James boosted their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 9th. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.61.

Check Out Our Latest Stock Analysis on ALHC

Alignment Healthcare Trading Down 3.9 %

The stock’s fifty day simple moving average is $5.85 and its two-hundred day simple moving average is $6.84. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $465.39 million for the quarter, compared to analysts’ expectations of $444.56 million. Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period last year, the firm earned ($0.31) EPS. Sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the sale, the insider now owns 1,830,008 shares in the company, valued at $9,955,243.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Dawn Christine Maroney sold 23,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the completion of the sale, the insider now directly owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John E. Kao acquired 103,000 shares of Alignment Healthcare stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $4.82 per share, with a total value of $496,460.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. In the last three months, insiders sold 90,213 shares of company stock valued at $460,587. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALHC. UBS Group AG increased its holdings in shares of Alignment Healthcare by 588.1% in the third quarter. UBS Group AG now owns 4,459 shares of the company’s stock valued at $53,000 after purchasing an additional 3,811 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Alignment Healthcare by 158.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,583 shares of the company’s stock valued at $44,000 after buying an additional 4,652 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Alignment Healthcare during the 2nd quarter valued at approximately $55,000. Quantbot Technologies LP increased its position in Alignment Healthcare by 220.8% during the 1st quarter. Quantbot Technologies LP now owns 11,227 shares of the company’s stock valued at $126,000 after purchasing an additional 7,727 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Alignment Healthcare during the 2nd quarter worth approximately $66,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Alignment Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alignment Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.