Alignment Healthcare (NASDAQ:ALHC) Trading Up 6.1%

Alignment Healthcare, Inc. (NASDAQ:ALHC) traded up 6.1% during mid-day trading on Monday . The stock traded as high as $8.35 and last traded at $8.30. 225,859 shares changed hands during trading, a decline of 75% from the average session volume of 904,357 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

A number of research firms have recently commented on ALHC. Barclays began coverage on Alignment Healthcare in a report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective for the company. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. Stifel Nicolaus decreased their target price on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Robert W. Baird assumed coverage on shares of Alignment Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.20.

Alignment Healthcare Stock Up 6.0 %

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $1.59 billion, a P/E ratio of -9.88 and a beta of 1.43. The stock’s fifty day moving average is $7.07 and its two-hundred day moving average is $6.66.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The company had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. During the same period in the prior year, the business posted ($0.20) EPS. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. As a group, research analysts predict that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total value of $164,200.00. Following the completion of the sale, the insider now owns 1,956,097 shares in the company, valued at approximately $16,059,556.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the transaction, the insider now directly owns 1,956,097 shares in the company, valued at $16,059,556.37. The disclosure for this sale can be found here. Insiders have sold a total of 37,200 shares of company stock valued at $302,032 in the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC raised its stake in shares of Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after acquiring an additional 968,637 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 3.7% in the third quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Alignment Healthcare by 283.9% in the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after buying an additional 233,417 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Alignment Healthcare during the 1st quarter worth $918,000. Finally, Blue Trust Inc. grew its stake in Alignment Healthcare by 47.4% in the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock valued at $1,272,000 after buying an additional 82,476 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.