Alignment Healthcare (NASDAQ:ALHC) Issues Earnings Results

Alignment Healthcare (NASDAQ:ALHC) issued its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01), Briefing.com reports. The business had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 84.43%. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period last year, the business posted ($0.20) EPS.

Alignment Healthcare Trading Up 26.0 %

NASDAQ:ALHC opened at $6.63 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50-day simple moving average is $5.12 and its 200-day simple moving average is $6.54. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $9.20. The stock has a market capitalization of $1.26 billion, a PE ratio of -7.89 and a beta of 1.23.

Analysts Set New Price Targets

ALHC has been the topic of a number of recent research reports. Barclays started coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price objective on the stock. Raymond James lifted their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 9th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. UBS Group reduced their target price on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $6.00 price target (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Hold” and an average price target of $8.83.

Insider Buying and Selling

In other news, CFO Robert Thomas Freeman sold 28,522 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the sale, the chief financial officer now owns 869,706 shares of the company’s stock, valued at $4,392,015.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Robert Thomas Freeman sold 28,522 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the transaction, the chief financial officer now directly owns 869,706 shares of the company’s stock, valued at $4,392,015.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dawn Christine Maroney sold 15,861 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $80,098.05. Following the transaction, the insider now owns 1,999,500 shares of the company’s stock, valued at $10,097,475. The disclosure for this sale can be found here. In the last three months, insiders sold 90,213 shares of company stock valued at $460,587. 6.30% of the stock is owned by corporate insiders.

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.