Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 6.1% – Time to Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares were down 6.1% during mid-day trading on Tuesday . The company traded as low as $18.32 and last traded at $18.0760. Approximately 675,224 shares changed hands during trading, a decline of 79% from the average daily volume of 3,261,453 shares. The stock had previously closed at $19.26.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALHC shares. Wolfe Research started coverage on shares of Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 price objective for the company. TD Cowen increased their price objective on shares of Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a report on Friday, January 16th. Zacks Research raised shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. KeyCorp reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.60.

Alignment Healthcare Trading Up 0.6%

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 stock’s 50 day moving average is $19.28 and its 200-day moving average is $19.47. The company has a market cap of $3.77 billion, a PE ratio of 202.78, a P/E/G ratio of 3.18 and a beta of 1.26.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted ($0.05) EPS. The business’s quarterly revenue was up 33.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other news, President Dawn Christine Maroney sold 36,749 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $655,602.16. Following the transaction, the president owned 1,058,813 shares of the company’s stock, valued at approximately $18,889,223.92. The trade was a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John E. Kao sold 250,000 shares of Alignment Healthcare stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $21.01, for a total transaction of $5,252,500.00. Following the transaction, the chief executive officer directly owned 2,104,641 shares of the company’s stock, valued at $44,218,507.41. The trade was a 10.62% 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 quarter, insiders sold 1,474,097 shares of company stock valued at $28,679,550. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new position in Alignment Healthcare during the 1st quarter valued at about $820,000. Parallel Advisors LLC grew its holdings in Alignment Healthcare by 529.6% during the 1st quarter. Parallel Advisors LLC now owns 10,413 shares of the company’s stock valued at $183,000 after purchasing an additional 8,759 shares during the last quarter. SEB Asset Management AB bought a new stake in shares of Alignment Healthcare during the first quarter worth $7,727,000. Allspring Global Investments Holdings LLC lifted its position in shares of Alignment Healthcare by 276.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,458,400 shares of the company’s stock worth $43,882,000 after purchasing an additional 1,805,752 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Alignment Healthcare by 232.5% during the first quarter. Bank of New York Mellon Corp now owns 3,313,110 shares of the company’s stock worth $58,377,000 after purchasing an additional 2,316,777 shares during the last quarter. 86.19% of the stock is currently owned by 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.