Alignment Healthcare (NASDAQ:ALHC) Shares Down 5.7% – What’s Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC) fell 5.7% during mid-day trading on Wednesday . The company traded as low as $12.82 and last traded at $12.6990. 422,099 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 4,520,511 shares. The stock had previously closed at $13.46.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays dropped their price objective on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. TD Cowen restated a “buy” rating on shares of Alignment Healthcare in a research report on Monday, August 3rd. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.60.

Alignment Healthcare Stock Performance

The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $16.83 and its two-hundred day moving average price is $18.18. The firm has a market capitalization of $2.66 billion, a PE ratio of 67.45 and a beta of 1.11.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $0.07 earnings per share. Alignment Healthcare’s revenue was up 31.6% compared to the same quarter last year. On average, equities analysts expect that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the completion of the sale, the chief executive officer directly owned 790,766 shares in the company, valued at $10,975,832.08. The trade was a 27.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Maroney sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $19.55, for a total transaction of $586,500.00. Following the completion of the transaction, the president directly owned 947,313 shares of the company’s stock, valued at approximately $18,519,969.15. This represents a 3.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 711,951 shares of company stock worth $12,530,007. 5.20% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Alignment Healthcare by 156.5% in the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock worth $56,660,000 after purchasing an additional 1,961,778 shares during the period. 1492 Capital Management LLC increased its position in Alignment Healthcare by 61.8% during the 4th quarter. 1492 Capital Management LLC now owns 324,865 shares of the company’s stock worth $6,416,000 after purchasing an additional 124,143 shares in the last quarter. Simplify Asset Management Inc. increased its position in Alignment Healthcare by 92.0% during the 4th quarter. Simplify Asset Management Inc. now owns 262,880 shares of the company’s stock worth $5,192,000 after purchasing an additional 125,946 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Alignment Healthcare by 8.7% in the fourth quarter. William Blair Investment Management LLC now owns 2,305,255 shares of the company’s stock valued at $45,529,000 after buying an additional 185,303 shares during the period. Finally, Investment House LLC acquired a new position in Alignment Healthcare during the fourth quarter valued at approximately $1,665,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

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.