Alignment Healthcare (NASDAQ:ALHC) Shares Down 3%

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report) shares dropped 3% during mid-day trading on Wednesday . The stock traded as low as $4.75 and last traded at $4.79. Approximately 84,028 shares traded hands during trading, a decline of 91% from the average daily volume of 916,854 shares. The stock had previously closed at $4.94.

Analysts Set New Price Targets

ALHC has been the topic of several research reports. Raymond James increased their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 9th. Barclays began coverage on Alignment Healthcare in a report on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $6.00 price target (down from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Stifel Nicolaus assumed coverage on Alignment Healthcare in a report on Wednesday, January 24th. They set a “buy” rating and a $11.00 price target for the company. Finally, William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.61.

Check Out Our Latest Research Report on ALHC

Alignment Healthcare Stock Up 1.3 %

The firm has a market capitalization of $916.55 million, a price-to-earnings ratio of -6.14 and a beta of 1.34. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average price of $6.34 and a two-hundred day moving average price of $6.88.

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

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao acquired 103,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the acquisition, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO John E. Kao acquired 103,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the purchase, the chief executive officer now directly owns 2,745,253 shares in the company, valued at $13,232,119.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dawn Christine Maroney sold 23,000 shares of the company’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 transaction, the insider now owns 1,830,008 shares of the company’s stock, valued at $9,955,243.52. The disclosure for this sale can be found here. Insiders have sold 84,093 shares of company stock worth $430,966 in the last three months. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Durable Capital Partners LP boosted its position in Alignment Healthcare by 2,079.2% during the 1st quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock worth $66,349,000 after acquiring an additional 5,637,102 shares during the period. Vanguard Group Inc. boosted its position in Alignment Healthcare by 25.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,117,393 shares of the company’s stock worth $96,111,000 after acquiring an additional 1,626,831 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Alignment Healthcare by 15.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,470,181 shares of the company’s stock valued at $99,610,000 after buying an additional 1,108,973 shares during the period. BlackRock Inc. lifted its holdings in shares of Alignment Healthcare by 21.8% in the third quarter. BlackRock Inc. now owns 5,698,621 shares of the company’s stock valued at $67,471,000 after buying an additional 1,020,637 shares during the period. Finally, Norges Bank acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at $11,601,000. 85.58% of the stock is currently owned by institutional investors.

Alignment Healthcare Company Profile

(Get Free Report)

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.

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