Alignment Healthcare (NASDAQ:ALHC) Shares Up 5.9% – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shot up 5.9% during trading on Wednesday . The company traded as high as $14.41 and last traded at $14.39. 661,328 shares changed hands during trading, a decline of 85% from the average session volume of 4,532,077 shares. The stock had previously closed at $13.59.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Wall Street Zen cut shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their price objective on Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Finally, Barclays lowered their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Alignment Healthcare Trading Up 4.7%

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’s 50 day moving average is $18.57 and its two-hundred day moving average is $18.68. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 74.83 and a beta of 1.10.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, July 30th. The company reported $0.17 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 the consensus estimate of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.Alignment Healthcare’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Equities analysts anticipate that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Mark D. Kent acquired 14,848 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $13.31 per share, for a total transaction of $197,626.88. Following the transaction, the insider directly owned 14,848 shares of the company’s stock, valued at $197,626.88. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao sold 298,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $13.88, for a total value of $4,136,240.00. Following the transaction, the chief executive officer owned 790,766 shares of the company’s stock, valued at approximately $10,975,832.08. The trade was a 27.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,009,951 shares of company stock worth $18,597,287. 5.20% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

A number of large investors have recently modified their holdings of ALHC. Summit Securities Group LLC acquired a new position in Alignment Healthcare during the 4th quarter valued at about $26,000. Versant Capital Management Inc increased its stake in shares of Alignment Healthcare by 463.3% in the second 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 during the period. Parallel Advisors LLC raised its holdings in shares of Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after buying an additional 773 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $33,000. Finally, Nykredit A S acquired a new position in shares of Alignment Healthcare during the second quarter worth approximately $36,000. Institutional investors and hedge funds 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.