Alignment Healthcare Target of Unusually High Options Trading (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of some unusual options trading activity on Thursday. Investors acquired 7,000 put options on the company. This is an increase of approximately 690% compared to the average daily volume of 886 put options.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the transaction, the insider now owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the completion of the sale, the insider now directly owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 438,895 shares of company stock valued at $4,621,859. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C lifted its holdings in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after buying an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares during the last quarter. Hood River Capital Management LLC lifted its stake in Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after purchasing an additional 185,854 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Stock Up 1.2 %

ALHC opened at $11.45 on Friday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -13.96 and a beta of 1.47. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The firm’s fifty day moving average is $10.03 and its 200 day moving average is $8.11. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $681.29 million for the quarter, compared to analysts’ expectations of $637.66 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the firm earned ($0.15) earnings per share. On average, sell-side analysts forecast that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALHC has been the subject of a number of recent analyst reports. Robert W. Baird boosted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. TD Cowen raised their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Piper Sandler reissued an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Barclays lifted their price objective on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Finally, KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

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.