Alignment Healthcare (NASDAQ:ALHC) Shares Up 3.7% – Here’s What Happened

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares rose 3.7% during mid-day trading on Tuesday . The company traded as high as $13.90 and last traded at $13.8910. Approximately 159,481 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 4,527,934 shares. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALHC. JPMorgan Chase & Co. dropped their price objective on shares of Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Raymond James Financial cut shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Monday, August 3rd. Finally, Barclays cut their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Alignment Healthcare Price Performance

The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22. The business’s fifty day moving average is $17.61 and its 200 day moving average is $18.37. The company has a market cap of $2.82 billion, a P/E ratio of 71.53 and a beta of 1.11.

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

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 298,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the sale, the chief executive officer directly owned 790,766 shares of the company’s stock, valued at $10,975,832.08. This represents a 27.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, the president owned 947,313 shares of the company’s stock, valued at $18,519,969.15. This represents a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,009,951 shares of company stock valued at $18,597,287. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALHC. Summit Securities Group LLC bought a new position in shares of Alignment Healthcare in the fourth quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings in shares of Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares during the last quarter. Nykredit A S purchased a new stake in shares of Alignment Healthcare during the 2nd quarter valued at $36,000. Parallel Advisors LLC lifted its holdings in shares of Alignment Healthcare by 87.7% during the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after acquiring an additional 773 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new position in Alignment Healthcare in the third quarter worth $33,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.