Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $13,000.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Christopher J. Joyce sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $10.00, for a total value of $13,000.00. Following the sale, the insider now owns 404,279 shares of the company’s stock, valued at approximately $4,042,790. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alignment Healthcare Trading Down 3.5 %

ALHC stock traded down $0.34 during trading on Friday, reaching $9.50. The company had a trading volume of 424,898 shares, compared to its average volume of 902,080. The business has a 50 day moving average of $8.86 and a 200 day moving average of $7.11. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $1.82 billion, a P/E ratio of -11.31 and a beta of 1.43. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $10.16.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company 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 firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. purchased a new stake in Alignment Healthcare in the first quarter worth about $918,000. Vanguard Group Inc. grew its stake in shares of Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after buying an additional 93,262 shares during the last quarter. Jump Financial LLC bought a new position in Alignment Healthcare during the 4th quarter valued at approximately $575,000. Assenagon Asset Management S.A. raised its stake in Alignment Healthcare by 283.9% during the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after buying an additional 233,417 shares during the last quarter. Finally, Aigen Investment Management LP boosted its holdings in Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after acquiring an additional 3,092 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays raised their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Bank of America raised Alignment Healthcare from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. Finally, Robert W. Baird lifted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Company Profile

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.