Alignment Healthcare (NASDAQ:ALHC) Shares Down 5.6%

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report) dropped 5.6% during mid-day trading on Thursday . The company traded as low as $7.10 and last traded at $7.13. Approximately 302,156 shares changed hands during trading, a decline of 66% from the average daily volume of 899,733 shares. The stock had previously closed at $7.55.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of research analyst reports. Bank of America raised Alignment Healthcare from a “neutral” rating to a “buy” rating and increased their target price for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Robert W. Baird assumed coverage on Alignment Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 target price for the company. UBS Group cut their target price on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus decreased their price target on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.20.

View Our Latest Research Report on Alignment Healthcare

Alignment Healthcare Price Performance

The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23. The stock’s fifty day moving average is $6.81 and its 200 day moving average is $6.70.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. Alignment Healthcare’s revenue was up 43.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) EPS. Equities research analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction that occurred 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 sale, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a filing with the SEC, which is available through this link. 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 shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the completion of the transaction, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the completion of the sale, the insider now directly owns 1,956,097 shares of the company’s stock, valued at $16,059,556.37. The disclosure for this sale can be found here. Insiders sold 43,320 shares of company stock valued at $331,653 in the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Alignment Healthcare in the first quarter worth $57,000. Principal Financial Group Inc. purchased a new position in Alignment Healthcare during the 1st quarter valued at about $57,000. Barlow Wealth Partners Inc. purchased a new position in Alignment Healthcare during the 4th quarter valued at about $100,000. Victory Capital Management Inc. boosted its stake in Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Alignment Healthcare in the third quarter worth about $109,000. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

(Get Free Report)

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.

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