Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down – Here’s What Happened

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.90, but opened at $13.60. Alignment Healthcare shares last traded at $13.92, with a volume of 111,699 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday. Barclays increased their target price 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 increased their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. KeyCorp started coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Thursday, January 2nd. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $2.79 billion, a PE ratio of -18.94 and a beta of 1.45. The company’s 50 day simple moving average is $11.94 and its two-hundred day simple moving average is $10.76.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same quarter last year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the transaction, the president now owns 1,606,097 shares in the company, valued at $21,858,980.17. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Thomas Freeman sold 4,483 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total transaction of $53,840.83. Following the sale, the chief financial officer now directly owns 159,626 shares in the company, valued at approximately $1,917,108.26. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 539,224 shares of company stock valued at $6,808,290. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. Verition Fund Management LLC boosted its position in shares of Alignment Healthcare by 85.3% during the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after purchasing an additional 55,771 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares in the last quarter. Barclays PLC boosted its position in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after buying an additional 114,191 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its position in shares of Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after buying an additional 2,630,788 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.