Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 4% – Should You Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC) fell 4% during trading on Wednesday . The stock traded as low as $18.94 and last traded at $18.7560. 1,254,294 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 3,029,696 shares. The stock had previously closed at $19.53.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Zacks Research cut shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lifted their target price on shares of Alignment Healthcare from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Barclays raised their price target on Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $22.00 target price on shares of Alignment Healthcare in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.35.

Alignment Healthcare Price Performance

The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $3.75 billion, a P/E ratio of -156.30 and a beta of 1.16. The stock’s 50-day simple moving average is $18.05 and its two-hundred day simple moving average is $16.08.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $993.70 million for the quarter, compared to analyst estimates of $980.90 million. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other Alignment Healthcare news, President Dawn Christine Maroney sold 113,319 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $20.01, for a total transaction of $2,267,513.19. Following the transaction, the president owned 1,667,237 shares in the company, valued at approximately $33,361,412.37. This represents a 6.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John E. Kao sold 180,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $19.02, for a total transaction of $3,423,600.00. Following the completion of the transaction, the chief executive officer directly owned 2,346,726 shares of the company’s stock, valued at approximately $44,634,728.52. This represents a 7.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 842,157 shares of company stock valued at $15,187,475. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently made changes to their positions in ALHC. Larson Financial Group LLC acquired a new position in shares of Alignment Healthcare in the 3rd quarter valued at $33,000. Wilmington Savings Fund Society FSB purchased a new position in Alignment Healthcare in the third quarter valued at $53,000. SBI Securities Co. Ltd. increased its holdings in Alignment Healthcare by 4,868.9% in the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock valued at $42,000 after buying an additional 2,970 shares in the last quarter. KBC Group NV acquired a new position in shares of Alignment Healthcare in the second quarter worth about $44,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Alignment Healthcare by 205.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $60,000 after acquiring an additional 2,327 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

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.