Alignment Healthcare (NASDAQ:ALHC) Shares Down 8.7% – What’s Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price traded down 8.7% during mid-day trading on Wednesday . The company traded as low as $22.48 and last traded at $21.9520. Approximately 2,605,623 shares were traded during trading, a decline of 40% from the average daily volume of 4,334,570 shares. The stock had previously closed at $24.05.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALHC. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday. Wolfe Research initiated coverage on shares of Alignment Healthcare in a report on Friday, April 17th. They issued an “outperform” rating and a $24.00 price objective for the company. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Zacks Research cut Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.30.

Alignment Healthcare Stock Down 6.8%

The firm has a 50-day moving average of $19.11 and a two-hundred day moving average of $19.79. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $4.05 billion, a PE ratio of 217.89, a price-to-earnings-growth ratio of 2.70 and a beta of 1.05.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Equities research analysts predict that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, EVP Joseph S. Konowiecki sold 25,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the completion of the transaction, the executive vice president owned 1,103,816 shares of the company’s stock, valued at $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $482,700.00. Following the sale, the president owned 998,813 shares of the company’s stock, valued at approximately $16,070,901.17. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 854,250 shares of company stock valued at $16,396,606 over the last three months. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in Alignment Healthcare during the fourth quarter worth $26,000. Versant Capital Management Inc grew its stake in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after buying an additional 773 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Alignment Healthcare in the 3rd quarter valued at $33,000. Finally, First Horizon Corp acquired a new position in Alignment Healthcare during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.