Alignment Healthcare (NASDAQ:ALHC) Shares Down 5.6%

Alignment Healthcare, Inc. (NASDAQ:ALHC) was down 5.6% during mid-day trading on Tuesday . The company traded as low as $9.35 and last traded at $9.37. Approximately 177,854 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 921,168 shares. The stock had previously closed at $9.93.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ALHC shares. Stephens lifted their price target on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Robert W. Baird initiated coverage on shares of Alignment Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 target price on the stock. Piper Sandler upgraded shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $8.00 in a report on Wednesday, May 8th. Finally, Stifel Nicolaus reduced their target price on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.11.

Alignment Healthcare Price Performance

The company has a market capitalization of $1.79 billion, a P/E ratio of -11.14 and a beta of 1.43. The firm’s fifty day moving average is $8.13 and its 200 day moving average is $6.74. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The business’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) earnings per share. As a group, analysts predict that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Christopher J. Joyce sold 16,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the transaction, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now directly owns 422,912 shares in the company, valued at $3,387,525.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dawn Christine Maroney sold 36,700 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $367,367.00. Following the transaction, the insider now owns 1,816,097 shares in the company, valued at $18,179,130.97. The disclosure for this sale can be found here. Insiders have sold 225,221 shares of company stock worth $2,142,155 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after acquiring an additional 1,962 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after buying an additional 3,092 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Alignment Healthcare by 18.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after buying an additional 4,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alignment Healthcare by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after buying an additional 10,123 shares during the last quarter. Hedge funds and other institutional investors 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.