Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month Low – What’s Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week low during trading on Wednesday . The company traded as low as $13.05 and last traded at $13.1170, with a volume of 160212 shares trading hands. The stock had previously closed at $13.23.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays dropped their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. TD Cowen reaffirmed a “buy” rating on shares of Alignment Healthcare in a research report on Monday, August 3rd. Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Raymond James Financial cut shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $22.00 to $19.00 in a report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Alignment Healthcare in a research note on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Alignment Healthcare Trading Down 2.1%

The business has a 50-day moving average price of $19.27 and a 200-day moving average price of $19.00. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $2.69 billion, a P/E ratio of 68.31 and a beta of 1.10.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The business’s revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. Analysts anticipate that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Hyong Kim sold 35,951 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the sale, the insider owned 331,750 shares of the company’s stock, valued at approximately $6,588,555. This represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Kent bought 14,848 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the acquisition, the insider owned 14,848 shares in the company, valued at $197,626.88. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,009,951 shares of company stock valued at $18,597,287 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings in Alignment Healthcare by 463.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares in the last quarter. Parallel Advisors LLC raised its position in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the last quarter. Larson Financial Group LLC bought a new position in Alignment Healthcare in the 3rd quarter valued at $33,000. Finally, First Horizon Corp acquired a new position in Alignment Healthcare in the fourth quarter worth $39,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.