Alignment Healthcare (NASDAQ:ALHC) Stock Price Up 5.1% – Here’s Why

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price rose 5.1% on Monday . The company traded as high as $12.92 and last traded at $12.49. Approximately 451,921 shares changed hands during trading, a decline of 58% from the average daily volume of 1,084,414 shares. The stock had previously closed at $11.88.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALHC. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Thursday, January 2nd. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. UBS Group boosted their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, KeyCorp began coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.38.

Alignment Healthcare Price Performance

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -17.06 and a beta of 1.45. The company has a fifty day simple moving average of $11.91 and a two-hundred day simple moving average of $10.58.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the business posted ($0.19) EPS. On average, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total value of $323,100.00. Following the sale, the insider now owns 1,726,097 shares of the company’s stock, valued at approximately $18,590,064.69. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 4,483 shares of Alignment Healthcare stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the transaction, the chief financial officer now owns 159,626 shares in the company, valued at $1,917,108.26. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 449,224 shares of company stock worth $5,547,690. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Alignment Healthcare in the 3rd quarter worth approximately $95,000. Principal Financial Group Inc. boosted its position in Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after buying an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare in the 3rd quarter worth $131,000. Creative Planning lifted its holdings in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after acquiring an additional 19,129 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

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.