Alignment Healthcare (NASDAQ:ALHC) Trading Up 5.5%

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) rose 5.5% on Tuesday . The stock traded as high as $5.00 and last traded at $4.97. Approximately 151,775 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 859,420 shares. The stock had previously closed at $4.71.

Analyst Ratings Changes

ALHC has been the subject of several research analyst reports. Stephens increased their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. UBS Group decreased their price objective on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Stifel Nicolaus initiated coverage on Alignment Healthcare in a report on Wednesday, January 24th. They issued a “buy” rating and a $11.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Finally, Raymond James increased their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average price target of $9.61.

Alignment Healthcare Trading Up 1.0 %

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $6.69. The company has a market cap of $935.44 million, a price-to-earnings ratio of -6.27 and a beta of 1.30.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The business had revenue of $465.39 million during the quarter, compared to analyst estimates of $444.56 million. During the same period last year, the business posted ($0.31) EPS. Alignment Healthcare’s revenue was up 28.6% compared to the same quarter last year. On average, equities analysts anticipate that Alignment Healthcare, Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 28,522 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $144,036.10. Following the completion of the sale, the chief financial officer now owns 869,706 shares of the company’s stock, valued at $4,392,015.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the transaction, the insider now owns 1,830,008 shares in the company, valued at $9,955,243.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 28,522 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total value of $144,036.10. Following the completion of the transaction, the chief financial officer now owns 869,706 shares of the company’s stock, valued at approximately $4,392,015.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,213 shares of company stock valued at $460,587. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Alignment Healthcare by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,146,210 shares of the company’s stock valued at $78,749,000 after buying an additional 24,778 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Alignment Healthcare by 2.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,805,887 shares of the company’s stock valued at $100,475,000 after purchasing an additional 236,652 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Alignment Healthcare by 15.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,470,181 shares of the company’s stock valued at $99,610,000 after purchasing an additional 1,108,973 shares during the last quarter. Durable Capital Partners LP raised its stake in Alignment Healthcare by 2,079.2% in the 1st quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock valued at $66,349,000 after purchasing an additional 5,637,102 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Alignment Healthcare by 21.8% in the 3rd quarter. BlackRock Inc. now owns 5,698,621 shares of the company’s stock valued at $67,471,000 after purchasing an additional 1,020,637 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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.