Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 7.7% – Here’s What Happened

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) were down 7.7% during mid-day trading on Monday . The stock traded as low as $16.54 and last traded at $16.5440. Approximately 881,520 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,309,128 shares. The stock had previously closed at $17.93.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALHC shares. KeyCorp restated an “overweight” rating and issued a $28.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. UBS Group upped their price target on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Alignment Healthcare Price Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The company has a 50 day moving average price of $19.15 and a 200 day moving average price of $19.48. The firm has a market cap of $3.78 billion, a PE ratio of 203.00, a PEG ratio of 2.40 and a beta of 1.26.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. Sell-side analysts expect that Alignment Healthcare, Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Christine Maroney sold 36,749 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total value of $655,602.16. Following the completion of the transaction, the president owned 1,058,813 shares in the company, valued at approximately $18,889,223.92. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John E. Kao sold 298,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $16.89, for a total value of $5,033,220.00. Following the completion of the transaction, the chief executive officer owned 1,508,641 shares of the company’s stock, valued at $25,480,946.49. The trade was a 16.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,569,859 shares of company stock valued at $29,569,358 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its position in Alignment Healthcare by 85.8% in the third quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock worth $1,794,000 after acquiring an additional 47,472 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Alignment Healthcare in the third quarter valued at $3,499,000. Hudson Bay Capital Management LP acquired a new stake in Alignment Healthcare in the third quarter valued at $4,581,000. Cinctive Capital Management LP acquired a new stake in Alignment Healthcare in the third quarter valued at $3,814,000. Finally, Vanguard Group Inc. grew its holdings in Alignment Healthcare by 5.0% in the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock valued at $243,752,000 after purchasing an additional 664,769 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.