Alignment Healthcare (NASDAQ:ALHC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Alignment Healthcare (NASDAQ:ALHC) announced its quarterly earnings data on Thursday. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02, Zacks reports. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%.

Alignment Healthcare Stock Performance

Alignment Healthcare stock traded up $0.31 during midday trading on Thursday, hitting $13.47. The company’s stock had a trading volume of 1,238,019 shares, compared to its average volume of 1,867,618. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -17.49 and a beta of 1.50. The company has a 50-day moving average price of $13.34 and a two-hundred day moving average price of $11.88. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $15.82. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Analyst Ratings Changes

A number of brokerages have weighed in on ALHC. Stifel Nicolaus increased their price target on Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Barclays lifted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.88.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the sale, the chief operating officer now directly owns 217,395 shares in the company, valued at $2,447,867.70. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the completion of the transaction, the chief executive officer now owns 2,363,100 shares of the company’s stock, valued at $27,530,115. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 441,002 shares of company stock worth $5,772,726 over the last three months. Corporate insiders own 6.60% 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.