Alignment Healthcare (NASDAQ:ALHC) Stock Price Up 5.6%

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) shares rose 5.6% on Friday . The company traded as high as $12.18 and last traded at $12.16. Approximately 6,553 shares were traded during trading, a decline of 99% from the average daily volume of 910,271 shares. The stock had previously closed at $11.51.

Analyst Ratings Changes

Separately, Raymond James cut Alignment Healthcare from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.22.

Alignment Healthcare Stock Performance

The stock has a market cap of $2.35 billion, a P/E ratio of -16.10 and a beta of 1.86. The company has a fifty day moving average of $12.00 and a 200 day moving average of $13.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.03 and a quick ratio of 2.03.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.03. Alignment Healthcare had a negative return on equity of 48.22% and a negative net margin of 10.25%. The firm had revenue of $360.35 million for the quarter, compared to analysts’ expectations of $333.65 million. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 4,274 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $12.01, for a total value of $51,330.74. Following the transaction, the insider now owns 1,970,692 shares of the company’s stock, valued at $23,668,010.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 4,274 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $12.01, for a total value of $51,330.74. Following the transaction, the insider now owns 1,970,692 shares of the company’s stock, valued at $23,668,010.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dinesh M. Kumar sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $13.02, for a total value of $130,200.00. Following the completion of the transaction, the insider now directly owns 1,177,226 shares in the company, valued at approximately $15,327,482.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,000 shares of company stock valued at $2,796,657. Corporate insiders own 5.70% 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. Robeco Institutional Asset Management B.V. purchased a new position in Alignment Healthcare during the 3rd quarter worth approximately $32,000. Nisa Investment Advisors LLC grew its position in Alignment Healthcare by 26.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,803 shares of the company’s stock worth $43,000 after purchasing an additional 803 shares in the last quarter. UBS Group AG grew its position in Alignment Healthcare by 588.1% during the 3rd quarter. UBS Group AG now owns 4,459 shares of the company’s stock worth $53,000 after purchasing an additional 3,811 shares in the last quarter. US Bancorp DE grew its position in Alignment Healthcare by 15.8% during the 2nd quarter. US Bancorp DE now owns 6,704 shares of the company’s stock worth $76,000 after purchasing an additional 914 shares in the last quarter. Finally, Sandia Investment Management LP purchased a new position in shares of Alignment Healthcare during the 3rd quarter valued at $89,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

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Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, Nevada, and Arizona.

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