Alignment Healthcare (NASDAQ:ALHC) Shares Gap Up – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) gapped up prior to trading on Tuesday . The stock had previously closed at $18.67, but opened at $20.26. Alignment Healthcare shares last traded at $21.4860, with a volume of 3,067,892 shares changing hands.

Analyst Upgrades and Downgrades

ALHC has been the subject of a number of research analyst reports. KeyCorp reissued an “overweight” rating and issued a $28.00 price target on shares of Alignment Healthcare in a report on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Piper Sandler upped their price target on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.75.

Alignment Healthcare Stock Down 1.6%

The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $4.35 billion, a PE ratio of -2,128.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.20. The business’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $18.97.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The business’s quarterly revenue was up 44.4% on a year-over-year basis. As a group, analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 250,000 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $21.01, for a total value of $5,252,500.00. Following the transaction, the chief executive officer owned 2,104,641 shares in the company, valued at $44,218,507.41. This represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of the company’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 completion of the transaction, the president owned 1,058,813 shares in the company, valued at $18,889,223.92. This represents a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,356,097 shares of company stock worth $26,365,919 in the last quarter. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Alignment Healthcare by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock worth $305,983,000 after buying an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP increased its holdings in Alignment Healthcare by 26.9% in the fourth quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock worth $277,900,000 after buying an additional 2,981,166 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Alignment Healthcare by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock worth $249,715,000 after buying an additional 79,268 shares during the last quarter. Invesco Ltd. increased its holdings in Alignment Healthcare by 38.9% in the fourth quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock worth $122,501,000 after buying an additional 1,735,962 shares during the last quarter. Finally, 8 Knots Management LLC increased its holdings in Alignment Healthcare by 6.4% in the second quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after buying an additional 300,409 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.