Alignment Healthcare (NASDAQ:ALHC) Shares Gap Up - Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $10.72, but opened at $11.45. Alignment Healthcare shares last traded at $10.84, with a volume of 45,975 shares traded.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of research reports. UBS Group boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Wednesday, October 30th. Stephens upgraded Alignment Healthcare from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $13.00 to $17.00 in a research note on Tuesday, December 3rd. Finally, KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a "sector weight" rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.44.

Alignment Healthcare Stock Up 1.1 %

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $2.08 billion, a P/E ratio of -14.08 and a beta of 1.42. The business's fifty day moving average price is $11.87 and its two-hundred day moving average price is $10.26.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analyst estimates of $662.11 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The business's revenue for the quarter was up 51.6% on a year-over-year basis. Equities analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, Director Joseph S. Konowiecki sold 6,920 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $13.73, for a total transaction of $95,011.60. Following the sale, the director now owns 1,134,888 shares of the company's stock, valued at approximately $15,582,012.24. The trade was a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Sebastian Burzacchi sold 8,550 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total transaction of $96,273.00. Following the completion of the transaction, the chief operating officer now directly owns 217,395 shares of the company's stock, valued at approximately $2,447,867.70. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 653,546 shares of company stock worth $7,875,008. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. nVerses Capital LLC purchased a new position in Alignment Healthcare during the 3rd quarter worth approximately $95,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Alignment Healthcare during the third quarter worth $131,000. Creative Planning lifted its position in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after purchasing an additional 2,072 shares during the period. Principal Financial Group Inc. boosted its holdings in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock valued at $106,000 after purchasing an additional 2,077 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Alignment Healthcare during the 3rd quarter worth about $315,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Company Profile

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.