Alignment Healthcare (NASDAQ:ALHC) Trading 3.7% Higher – Here’s Why

Alignment Healthcare, Inc. (NASDAQ:ALHC) rose 3.7% on Tuesday . The company traded as high as $13.90 and last traded at $13.8910. 159,481 shares changed hands during trading, a decline of 96% from the average daily volume of 4,527,934 shares. The stock had previously closed at $13.40.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Alignment Healthcare in a report on Tuesday, August 4th. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. TD Cowen reiterated a “buy” rating on shares of Alignment Healthcare in a research note on Monday, August 3rd. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Finally, Barclays dropped their target price on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $23.60.

Alignment Healthcare Stock Up 2.8%

The business’s 50 day moving average price is $17.93 and its 200 day moving average price is $18.47. The firm has a market cap of $2.86 billion, a PE ratio of 72.42 and a beta of 1.10. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. On average, equities research analysts expect that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In related news, EVP Joseph S. Konowiecki sold 25,000 shares of the firm’s 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 sale, the executive vice president directly owned 1,103,816 shares in the company, valued at approximately $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the sale, the chief executive officer owned 790,766 shares of the company’s stock, valued at $10,975,832.08. This represents a 27.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,009,951 shares of company stock worth $18,597,287. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently bought and sold shares of ALHC. Summit Securities Group LLC purchased a new position in Alignment Healthcare in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc grew its holdings in shares of Alignment Healthcare by 463.3% during the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares during the last quarter. Nykredit A S purchased a new position in Alignment Healthcare during the 2nd quarter worth approximately $36,000. Parallel Advisors LLC grew its position in shares of Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after acquiring an additional 773 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new position in Alignment Healthcare in the third quarter valued at $33,000. 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.