Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month Low – What’s Next?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) reached a new 52-week low on Wednesday . The company traded as low as $13.05 and last traded at $13.1170, with a volume of 160212 shares. The stock had previously closed at $13.23.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James Financial lowered shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $22.00 to $19.00 in a research note on Monday, August 3rd. Barclays cut their price target 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Alignment Healthcare in a research report on Tuesday, August 4th. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.60.

Alignment Healthcare Stock Performance

The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 68.31 and a beta of 1.10. The company’s 50 day simple moving average is $19.27 and its 200 day simple moving average is $19.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70.

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

Insiders Place Their Bets

In other news, insider Mark D. Kent bought 14,848 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $13.31 per share, with a total value of $197,626.88. Following the completion of the acquisition, the insider directly owned 14,848 shares in the company, valued at approximately $197,626.88. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,009,951 shares of company stock valued at $18,597,287. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in ALHC. Royal Bank of Canada raised its stake in Alignment Healthcare by 92.6% during the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock valued at $1,720,000 after purchasing an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alignment Healthcare by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after buying an additional 2,594 shares during the period. Goldman Sachs Group Inc. increased its stake in Alignment Healthcare by 79.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock valued at $18,112,000 after buying an additional 429,703 shares during the period. Woodline Partners LP purchased a new stake in Alignment Healthcare in the 1st quarter worth approximately $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alignment Healthcare by 16.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock valued at $5,729,000 after buying an additional 44,452 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Company Profile

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.