Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 7.7% – Here’s Why

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price traded down 7.7% during mid-day trading on Monday . The stock traded as low as $16.54 and last traded at $16.5440. 881,520 shares changed hands during trading, a decline of 73% from the average session volume of 3,309,128 shares. The stock had previously closed at $17.93.

Analyst Ratings Changes

ALHC has been the subject of several research analyst reports. Raymond James Financial set a $22.00 price objective on shares of Alignment Healthcare in a research note on Thursday. Robert W. Baird set a $28.00 price target on shares of Alignment Healthcare in a research report on Friday, January 30th. Barclays lifted their price target on shares of Alignment Healthcare from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. lifted their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.60.

Alignment Healthcare Stock Down 4.3%

The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $3.55 billion, a PE ratio of 190.67, a P/E/G ratio of 2.78 and a beta of 1.26. The stock’s fifty day simple moving average is $19.28 and its 200-day simple moving average is $19.47.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. As a group, sell-side analysts forecast that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In related news, 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 transaction, the president directly owned 1,058,813 shares of the company’s stock, valued at approximately $18,889,223.92. The trade was a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 250,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $21.01, for a total transaction of $5,252,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,104,641 shares in the company, valued at $44,218,507.41. This trade represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,474,097 shares of company stock worth $28,679,550 over the last three months. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in shares of Alignment Healthcare in the 4th quarter worth about $26,000. Parallel Advisors LLC raised its stake in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after acquiring an additional 773 shares during the period. Larson Financial Group LLC bought a new stake in Alignment Healthcare in the 3rd quarter valued at about $33,000. First Horizon Corp bought a new stake in Alignment Healthcare in the 4th quarter valued at about $39,000. Finally, GAMMA Investing LLC raised its stake in Alignment Healthcare by 83.8% in the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after acquiring an additional 987 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.