Alignment Healthcare (NASDAQ:ALHC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Alignment Healthcare (NASDAQ:ALHC) announced its earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01), Briefing.com reports. The firm had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. Alignment Healthcare’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) earnings per share.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded up $1.37 during mid-day trading on Friday, hitting $6.63. The stock had a trading volume of 3,023,068 shares, compared to its average volume of 898,686. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -8.39 and a beta of 1.23. The company has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $6.55. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $9.20. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ALHC shares. UBS Group reduced their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Stifel Nicolaus reduced their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Stephens increased their price objective on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $6.00 price objective (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare presently has an average rating of “Hold” and an average target price of $8.83.

Insider Activity at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 11,858 shares of Alignment Healthcare stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $4.89, for a total value of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at approximately $4,392,334.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at approximately $4,392,334.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao purchased 103,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, 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. Insiders have sold a total of 90,213 shares of company stock worth $460,587 in the last ninety days. 6.30% of the stock is owned by insiders.

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.