Alignment Healthcare (NASDAQ:ALHC) Shares Down 10.5%

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) traded down 10.5% during mid-day trading on Tuesday . The stock traded as low as $18.32 and last traded at $18.51. 34,119 shares traded hands during trading, a decline of 92% from the average session volume of 444,572 shares. The stock had previously closed at $20.69.

ALHC has been the subject of a number of analyst reports. Cowen initiated coverage on shares of Alignment Healthcare in a research report on Thursday, September 9th. They issued an “outperform” rating and a $24.00 target price for the company. Morgan Stanley cut their price target on shares of Alignment Healthcare from $38.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, August 31st. Zacks Investment Research upgraded shares of Alignment Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, November 9th. Barclays increased their price target on shares of Alignment Healthcare from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 8th. Finally, Raymond James cut their price target on shares of Alignment Healthcare from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, August 12th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $27.38.

The company has a debt-to-equity ratio of 0.46, a current ratio of 3.30 and a quick ratio of 3.30. The stock’s 50-day moving average price is $19.08 and its 200-day moving average price is $20.69.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, November 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.09). Alignment Healthcare had a negative net margin of 16.15% and a negative return on equity of 68.37%. The company had revenue of $293.47 million for the quarter, compared to analyst estimates of $276.31 million. Equities research analysts forecast that Alignment Healthcare, Inc. will post -1.23 earnings per share for the current fiscal year.

In other Alignment Healthcare news, Director Atlantic (Aln Hlth) L. General sold 6,259,298 shares of the stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $20.11, for a total transaction of $125,874,482.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Thomas Freeman sold 85,279 shares of the firm’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was sold at an average price of $20.11, for a total transaction of $1,714,960.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,165,067 shares of company stock valued at $143,772,529.

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Alignment Healthcare by 20.2% in the 3rd quarter. Royal Bank of Canada now owns 4,571 shares of the company’s stock worth $72,000 after buying an additional 767 shares in the last quarter. UBS Group AG grew its stake in shares of Alignment Healthcare by 156.9% during the 3rd quarter. UBS Group AG now owns 1,734 shares of the company’s stock valued at $28,000 after purchasing an additional 1,059 shares during the period. Citigroup Inc. bought a new stake in shares of Alignment Healthcare during the 2nd quarter valued at about $34,000. Advisor Group Holdings Inc. bought a new stake in shares of Alignment Healthcare during the 2nd quarter valued at about $48,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Alignment Healthcare during the 2nd quarter valued at about $48,000. 79.05% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare (NASDAQ:ALHC)

Alignment Healthcare, Inc provides a consumer-centric platform that delivers customized health care to seniors in the United States. It offers medicare advantage plans and health plan options to its partners and patients with customized care and service; and preferred provider organization offerings.

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