Alignment Healthcare (NASDAQ:ALHC) Trading Down 5.7% – Here’s What Happened

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price fell 5.7% during trading on Wednesday . The company traded as low as $12.82 and last traded at $12.6990. 422,099 shares changed hands during trading, a decline of 91% from the average session volume of 4,520,511 shares. The stock had previously closed at $13.46.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALHC. JPMorgan Chase & Co. dropped their target price on Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Raymond James Financial lowered Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $22.00 to $19.00 in a report on Monday, August 3rd. TD Cowen reissued a “buy” rating on shares of Alignment Healthcare in a report on Monday, August 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Alignment Healthcare in a research report on Tuesday, August 4th. Finally, Barclays decreased their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Alignment Healthcare Trading Down 4.8%

The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The business has a 50-day simple moving average of $16.83 and a 200-day simple moving average of $18.18. The company has a market cap of $2.66 billion, a PE ratio of 67.45 and a beta of 1.11.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 31.6% on a year-over-year basis. On average, analysts predict that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the completion of the transaction, the insider owned 331,750 shares in the company, valued at $6,588,555. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Maroney sold 30,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the sale, the president owned 947,313 shares in the company, valued at approximately $18,519,969.15. The trade was a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 711,951 shares of company stock worth $12,530,007. 5.20% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Large investors have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in shares of Alignment Healthcare in the 2nd quarter valued at approximately $1,164,000. Arizona State Retirement System increased its holdings in shares of Alignment Healthcare by 15.8% in the 2nd quarter. Arizona State Retirement System now owns 53,553 shares of the company’s stock valued at $1,275,000 after acquiring an additional 7,318 shares during the last quarter. Nykredit A S purchased a new stake in Alignment Healthcare during the second quarter worth approximately $36,000. Corient Private Wealth LP increased its stake in Alignment Healthcare by 128.2% in the second quarter. Corient Private Wealth LP now owns 136,505 shares of the company’s stock valued at $3,250,000 after purchasing an additional 76,677 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Alignment Healthcare during the 2nd quarter worth $755,000. 86.19% of the stock is currently 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.