Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 5.1% - What's Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s stock price was down 5.1% during mid-day trading on Friday . The company traded as low as $11.53 and last traded at $11.58. Approximately 960,063 shares were traded during trading, a decline of 17% from the average daily volume of 1,161,679 shares. The stock had previously closed at $12.20.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Wednesday, October 30th. Stephens raised shares of Alignment Healthcare from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $13.00 to $17.00 in a report on Tuesday. UBS Group boosted 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. Finally, KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a "sector weight" rating for the company. One 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.44.

Alignment Healthcare Trading Down 5.8 %

The firm's 50 day simple moving average is $11.93 and its two-hundred day simple moving average is $9.91. The stock has a market cap of $2.20 billion, a P/E ratio of -15.84 and a beta of 1.42. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.14). The company had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm's quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. As a group, equities research analysts predict 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, CFO Robert Thomas Freeman sold 8,561 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the completion of the transaction, the chief financial officer now directly owns 399,429 shares in the company, valued at $3,998,284.29. This represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total value of $323,100.00. Following the transaction, the insider now owns 1,726,097 shares of the company's stock, valued at $18,590,064.69. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 540,483 shares of company stock worth $6,513,528 over the last 90 days. Insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. Series C boosted its position in Alignment Healthcare by 31.8% during 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 acquiring an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company's stock worth $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Royce & Associates LP bought a new stake in shares of Alignment Healthcare during the 3rd quarter worth approximately $3,782,000. Renaissance Technologies LLC raised its stake in shares of Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company's stock worth $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Alignment Healthcare during the 2nd quarter worth approximately $1,512,000. 86.19% of the stock is currently 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.

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