Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 9.7%

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) fell 9.7% during trading on Monday . The company traded as low as $8.05 and last traded at $8.07. 236,870 shares were traded during mid-day trading, a decline of 75% from the average session volume of 937,697 shares. The stock had previously closed at $8.94.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALHC. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Sandler restated an “overweight” rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday. Barclays boosted their price target on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Stephens boosted their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.95.

Alignment Healthcare Stock Performance

The stock has a market capitalization of $1.67 billion, a P/E ratio of -10.29 and a beta of 1.43. The stock’s 50-day simple moving average is $8.38 and its 200 day simple moving average is $6.78. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) EPS 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 95.55%. Alignment Healthcare’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) EPS. Research analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Christopher J. Joyce sold 16,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total value of $128,160.00. Following the transaction, the insider now directly owns 422,912 shares of the company’s stock, valued at approximately $3,387,525.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alignment Healthcare news, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Over the last quarter, insiders have sold 226,554 shares of company stock worth $2,154,152. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several large investors have recently modified their holdings of ALHC. Principal Financial Group Inc. bought a new stake in Alignment Healthcare during the first quarter worth about $57,000. Virtu Financial LLC bought a new stake in shares of Alignment Healthcare during the 1st quarter worth $57,000. Barlow Wealth Partners Inc. acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $100,000. Victory Capital Management Inc. grew its holdings in shares of Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Aigen Investment Management LP increased its position in Alignment Healthcare by 18.5% during the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.