Alignment Healthcare (NASDAQ:ALHC) Shares Up 8.6%

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price was up 8.6% on Wednesday . The company traded as high as $9.79 and last traded at $9.77. Approximately 556,362 shares were traded during trading, a decline of 38% from the average daily volume of 902,523 shares. The stock had previously closed at $9.00.

Analyst Ratings Changes

A number of research analysts have issued reports on ALHC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Robert W. Baird lifted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. TD Cowen boosted their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays raised their target price 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Stock Performance

The company’s 50-day moving average is $9.07 and its two-hundred day moving average is $7.23. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data 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 business had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, research analysts expect that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 38,858 shares of Alignment Healthcare stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $10.01, for a total value of $388,968.58. Following the transaction, the chief financial officer now owns 414,429 shares in the company, valued at $4,148,434.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total value of $63,807.48. Following the transaction, the insider now owns 1,789,023 shares in the company, valued at $16,136,987.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Thomas Freeman sold 38,858 shares of Alignment Healthcare stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $388,968.58. Following the completion of the sale, the chief financial officer now owns 414,429 shares of the company’s stock, valued at $4,148,434.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,578 shares of company stock valued at $2,130,024. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of ALHC. Virtu Financial LLC acquired a new stake in shares of Alignment Healthcare in the first quarter valued at about $57,000. Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare during the first quarter valued at about $57,000. Victory Capital Management Inc. lifted its stake in shares of Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after buying an additional 1,962 shares during the period. Aigen Investment Management LP increased its stake in Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after acquiring an additional 3,092 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Alignment Healthcare by 110.0% in the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after acquiring an additional 19,129 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.