Alignment Healthcare (NASDAQ:ALHC) Trading 5.1% Higher – Should You Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price rose 5.1% during mid-day trading on Monday . The company traded as high as $12.92 and last traded at $12.49. Approximately 451,921 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 1,084,414 shares. The stock had previously closed at $11.88.

Analyst Ratings Changes

A number of research firms have recently commented on ALHC. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Thursday, January 2nd. KeyCorp assumed coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Barclays upped their price target 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. Stifel Nicolaus raised their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday. Finally, UBS Group upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Price Performance

The stock has a market cap of $2.59 billion, a P/E ratio of -17.55 and a beta of 1.45. The business has a 50-day simple moving average of $11.91 and a 200 day simple moving average of $10.66. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) EPS. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, Director Joseph S. Konowiecki sold 6,920 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the transaction, the director now directly owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Thomas Freeman sold 4,483 shares of the firm’s 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 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 disclosure for this sale can be found here. Insiders have sold a total of 509,224 shares of company stock worth $6,399,990 over the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Large investors have recently made changes to their positions in the company. Creative Planning raised its stake in 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 buying an additional 2,072 shares during the period. nVerses Capital LLC bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $95,000. The Manufacturers Life Insurance Company raised its position in shares of Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after purchasing an additional 9,595 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare in the 3rd quarter worth $131,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alignment Healthcare by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock worth $9,925,000 after purchasing an additional 13,865 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

About Alignment Healthcare

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.