Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report)’s share price shot up 5.1% on Monday . The company traded as high as $12.92 and last traded at $12.49. 451,921 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,084,414 shares. The stock had previously closed at $11.88.
Wall Street Analysts Forecast Growth
Several brokerages have commented on ALHC. KeyCorp started coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. Finally, Barclays boosted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.88.
View Our Latest Stock Analysis on Alignment Healthcare
Alignment Healthcare Stock Up 0.1 %
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. Alignment Healthcare’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) EPS. As a group, sell-side analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.
Insiders Place Their Bets
In related news, CFO Robert Thomas Freeman sold 4,483 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total transaction of $53,840.83. Following the completion of the sale, the chief financial officer now directly owns 159,626 shares of the company’s stock, valued at approximately $1,917,108.26. This trade represents a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hakan Kardes sold 4,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $12.98, for a total value of $58,410.00. Following the completion of the transaction, the insider now directly owns 375,944 shares in the company, valued at approximately $4,879,753.12. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 509,224 shares of company stock worth $6,399,990 over the last three months. Insiders own 6.60% of the company’s stock.
Institutional Investors Weigh In On Alignment Healthcare
Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in Alignment Healthcare during the 3rd quarter worth $95,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the 3rd quarter worth approximately $131,000. Creative Planning boosted its position in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares in the last quarter. Intech Investment Management LLC acquired a new position in Alignment Healthcare during the third quarter valued at approximately $315,000. Finally, Mackenzie Financial Corp lifted its stake in Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after purchasing an additional 19,129 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.
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.
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