Alignment Healthcare (NASDAQ:ALHC) Trading 10.3% Higher – Here’s What Happened

Alignment Healthcare, Inc. (NASDAQ:ALHC) traded up 10.3% on Tuesday . The company traded as high as $16.87 and last traded at $16.9240. 1,248,266 shares were traded during trading, a decline of 69% from the average session volume of 4,012,689 shares. The stock had previously closed at $15.35.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALHC. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wolfe Research began coverage on Alignment Healthcare in a research report on Friday, April 17th. They set an “outperform” rating and a $24.00 price objective on the stock. 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 report on Tuesday, May 26th. Finally, UBS Group lifted their target price on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. One analyst has 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Trading Up 19.6%

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 firm has a 50 day moving average of $18.31 and a 200 day moving average of $19.32. The firm has a market cap of $3.79 billion, a PE ratio of 203.16, a P/E/G ratio of 2.08 and a beta of 1.14.

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

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Mark D. Kent purchased 14,848 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $13.31 per share, with a total value of $197,626.88. Following the completion of the purchase, the insider directly owned 14,848 shares of the company’s stock, valued at $197,626.88. The trade was a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $16.89, for a total value of $5,033,220.00. Following the sale, the chief executive officer directly owned 1,508,641 shares in the company, valued at approximately $25,480,946.49. The trade was a 16.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,368,741 shares of company stock valued at $25,765,741. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several large investors have recently made changes to their positions in ALHC. Summit Securities Group LLC purchased a new position in Alignment Healthcare in the 4th quarter worth approximately $26,000. Parallel Advisors LLC grew its position in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after purchasing an additional 773 shares during the period. Larson Financial Group LLC bought a new stake in Alignment Healthcare in the 3rd quarter worth approximately $33,000. First Horizon Corp bought a new stake in Alignment Healthcare in the 4th quarter worth approximately $39,000. Finally, GAMMA Investing LLC grew its position in Alignment Healthcare by 83.8% in the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock worth $43,000 after purchasing an additional 987 shares during the period. 86.19% of the stock is currently 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.