Alignment Healthcare (NASDAQ:ALHC) Trading 5.9% Higher – Here’s What Happened

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) shot up 5.9% during trading on Wednesday . The stock traded as high as $14.41 and last traded at $14.39. 661,328 shares traded hands during trading, a decline of 85% from the average daily volume of 4,532,077 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

ALHC has been the subject of several recent research reports. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays reduced their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Alignment Healthcare in a research note on Tuesday, August 4th. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Finally, KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Alignment Healthcare Stock Down 2.4%

The company has a market capitalization of $2.81 billion, a P/E ratio of 71.37 and a beta of 1.10. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70. The company has a 50 day moving average of $18.26 and a 200-day moving average of $18.57.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.Alignment Healthcare’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. As a group, equities analysts anticipate that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.

Insider Activity at Alignment Healthcare

In related news, EVP Joseph S. Konowiecki sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the completion of the sale, the executive vice president owned 1,103,816 shares of the company’s stock, valued at $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Kent purchased 14,848 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $13.31 per share, for a total transaction of $197,626.88. Following the acquisition, the insider owned 14,848 shares of the company’s stock, valued at $197,626.88. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 1,009,951 shares of company stock valued at $18,597,287 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at about $26,000. Versant Capital Management Inc raised its stake in Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after buying an additional 773 shares during the period. Larson Financial Group LLC purchased a new stake in Alignment Healthcare in the third quarter worth about $33,000. Finally, Nykredit A S bought a new stake in Alignment Healthcare during the 2nd quarter valued at approximately $36,000. 86.19% of the stock is 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.