Alignment Healthcare (NASDAQ:ALHC) Hits New 1-Year Low – Time to Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.65 and last traded at $13.03, with a volume of 4899195 shares trading hands. The stock had previously closed at $13.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James Financial cut Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. Barclays dropped their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. TD Cowen reiterated a “buy” rating on shares of Alignment Healthcare in a report on Monday, August 3rd. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Alignment Healthcare Price Performance

The company has a market cap of $2.70 billion, a price-to-earnings ratio of 68.58 and a beta of 1.11. The company has a fifty day moving average price of $16.61 and a two-hundred day moving average price of $18.13. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22.

Alignment Healthcare (NASDAQ:ALHC) last issued its 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 revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other news, EVP Joseph Konowiecki sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the completion of the transaction, the executive vice president directly owned 1,103,816 shares of the company’s stock, valued at approximately $26,491,584. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Kao sold 298,000 shares of Alignment Healthcare stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the sale, the chief executive officer owned 790,766 shares in the company, valued at approximately $10,975,832.08. This trade represents a 27.37% 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 90 days, insiders have sold 711,951 shares of company stock worth $12,530,007. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Alignment Healthcare by 92.6% during the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock worth $1,720,000 after buying an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alignment Healthcare by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after acquiring an additional 2,594 shares during the period. Goldman Sachs Group Inc. raised its stake in Alignment Healthcare by 79.1% during the first quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock worth $18,112,000 after acquiring an additional 429,703 shares in the last quarter. Woodline Partners LP acquired a new position in Alignment Healthcare during the first quarter worth $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alignment Healthcare by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock valued at $5,729,000 after acquiring an additional 44,452 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.