Stock Traders Buy High Volume of Alignment Healthcare Call Options (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw some unusual options trading on Monday. Investors bought 15,153 call options on the stock. This represents an increase of approximately 467% compared to the typical daily volume of 2,673 call options.

Alignment Healthcare Trading Up 0.8 %

Shares of NASDAQ ALHC traded up $0.09 during trading on Monday, reaching $11.48. The company had a trading volume of 27,188 shares, compared to its average volume of 1,160,766. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $14.25. The business’s 50-day moving average is $11.93 and its 200 day moving average is $9.97. 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 quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. On average, sell-side analysts predict that Alignment Healthcare will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALHC shares. Robert W. Baird lifted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. UBS Group lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. KeyCorp initiated coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $17.00 in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.44.

Insider Activity at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the sale, the chief financial officer now owns 399,429 shares of the company’s stock, valued at approximately $3,998,284.29. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hakan Kardes sold 25,000 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $11.48, for a total transaction of $287,000.00. Following the completion of the sale, the insider now directly owns 380,444 shares in the company, valued at $4,367,497.12. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 603,057 shares of company stock worth $7,276,931 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the third quarter worth $95,000. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare during the third quarter worth $131,000. Creative Planning boosted its position in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after acquiring an additional 19,129 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.