Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 7.5% – Time to Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price traded down 7.5% during mid-day trading on Monday . The company traded as low as $14.18 and last traded at $14.1650. 2,233,812 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 3,811,681 shares. The stock had previously closed at $15.32.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Wolfe Research assumed coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 target price for the company. UBS Group boosted their target price on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings raised shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Stock Performance

The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 151.56, a P/E/G ratio of 1.86 and a beta of 1.14. The stock has a 50 day moving average of $18.57 and a 200 day moving average of $19.38. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.Alignment Healthcare’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, analysts anticipate that Alignment Healthcare, Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 298,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $16.89, for a total value of $5,033,220.00. Following the completion of the transaction, the chief executive officer owned 1,508,641 shares of the company’s stock, valued at $25,480,946.49. The trade was a 16.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $17.84, for a total value of $655,602.16. Following the completion of the transaction, the president directly owned 1,058,813 shares of the company’s stock, valued at approximately $18,889,223.92. This trade represents a 3.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,548,741 shares of company stock valued at $29,039,941. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new position in Alignment Healthcare during the fourth quarter worth about $26,000. Parallel Advisors LLC raised its stake in Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after acquiring an additional 773 shares in the last quarter. Larson Financial Group LLC acquired a new position in Alignment Healthcare during the third quarter worth about $33,000. First Horizon Corp acquired a new position in Alignment Healthcare during the fourth quarter worth about $39,000. Finally, GAMMA Investing LLC raised its stake in Alignment Healthcare by 83.8% during the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock worth $43,000 after acquiring an additional 987 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

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.