Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Christopher J. Joyce Sells 15,034 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 15,034 shares of Alignment Healthcare stock in a transaction on Monday, July 15th. The stock was sold at an average price of $9.05, for a total transaction of $136,057.70. Following the completion of the transaction, the insider now directly owns 406,912 shares in the company, valued at $3,682,553.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded up $0.89 during mid-day trading on Tuesday, reaching $9.87. The company’s stock had a trading volume of 1,701,775 shares, compared to its average volume of 909,035. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $10.00. The firm’s fifty day moving average price is $7.67 and its two-hundred day moving average price is $6.64. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.89 billion, a P/E ratio of -11.30 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last released 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). Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The business had revenue of $628.60 million for the quarter, compared to analysts’ expectations of $599.75 million. During the same period in the previous year, the company earned ($0.20) EPS. Alignment Healthcare’s revenue for the quarter was up 43.1% compared to the same quarter last year. On average, equities analysts forecast that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler raised shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $6.00 to $8.00 in a research note on Wednesday, May 8th. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.75 to $11.00 in a report on Thursday, May 30th. Stifel Nicolaus cut their price target 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. Finally, Robert W. Baird started coverage on shares of Alignment Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.11.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jump Financial LLC bought a new position in shares of Alignment Healthcare during the 4th quarter valued at approximately $575,000. Vanguard Group Inc. grew its stake in shares of Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after acquiring an additional 322,661 shares during the period. Barlow Wealth Partners Inc. bought a new position in shares of Alignment Healthcare during the 4th quarter valued at approximately $100,000. Assenagon Asset Management S.A. grew its stake in shares of Alignment Healthcare by 283.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after acquiring an additional 233,417 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Alignment Healthcare by 18.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after acquiring an additional 4,862 shares during the period. 86.19% of the stock is currently owned by institutional investors.

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.