Alignment Healthcare (NASDAQ:ALHC) Shares Down 8.7% – What’s Next?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) traded down 8.7% on Wednesday . The company traded as low as $22.48 and last traded at $21.9520. 2,605,623 shares traded hands during trading, a decline of 40% from the average session volume of 4,334,570 shares. The stock had previously closed at $24.05.

Analyst Ratings Changes

A number of research firms have commented on ALHC. Wolfe Research assumed coverage on Alignment Healthcare in a research note on Friday, April 17th. They issued an “outperform” rating and a $24.00 price objective on the stock. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a report on Thursday, May 7th. UBS Group upped their price target on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Finally, Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $24.30.

Alignment Healthcare Stock Performance

The firm has a fifty day moving average of $19.15 and a 200-day moving average of $19.79. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The firm has a market cap of $4.32 billion, a P/E ratio of 234.56, a PEG ratio of 3.32 and a beta of 1.05.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Research analysts predict that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In related news, insider Mark D. Kent purchased 14,848 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of $13.31 per share, with a total value of $197,626.88. Following the purchase, the insider directly owned 14,848 shares in the company, valued at $197,626.88. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Hyong Kim sold 35,951 shares of Alignment Healthcare stock in a transaction on Friday, June 12th. The stock was sold at an average price of $19.86, for a total value of $713,986.86. Following the sale, the insider directly owned 331,750 shares of the company’s stock, valued at approximately $6,588,555. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,069,951 shares of company stock worth $20,846,518. 5.20% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP bought a new stake in Alignment Healthcare in the third quarter valued at approximately $4,581,000. 1492 Capital Management LLC grew its holdings in shares of Alignment Healthcare by 61.8% in the 4th quarter. 1492 Capital Management LLC now owns 324,865 shares of the company’s stock valued at $6,416,000 after buying an additional 124,143 shares during the period. Cinctive Capital Management LP acquired a new position in shares of Alignment Healthcare in the 3rd quarter valued at $3,814,000. Assenagon Asset Management S.A. increased its position in shares of Alignment Healthcare by 6,708.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company’s stock valued at $35,056,000 after buying an additional 1,748,903 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Alignment Healthcare by 148.5% during the 4th quarter. SG Americas Securities LLC now owns 60,390 shares of the company’s stock worth $1,193,000 after buying an additional 36,084 shares during the period. 86.19% of the stock is currently 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.