Alignment Healthcare (NASDAQ:ALHC) Stock Price Up 5.1% - Here's Why

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) shares shot up 5.1% during trading on Monday . The stock traded as high as $12.92 and last traded at $12.49. 451,921 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,084,414 shares. The stock had previously closed at $11.88.

Analyst Ratings Changes

Several research firms recently commented on ALHC. UBS Group raised their price objective 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. Barclays raised their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Wednesday, October 30th. KeyCorp initiated coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a "sector weight" rating for the company. Finally, Stephens reissued an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.38.

Alignment Healthcare Stock Performance

The company has a market cap of $2.59 billion, a PE ratio of -17.53 and a beta of 1.45. The business's 50-day moving average is $11.91 and its 200 day moving average is $10.62. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.14). The business had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company's revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) EPS. On average, equities research analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the sale, the insider now owns 1,726,097 shares of the company's stock, valued at $18,590,064.69. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the sale, the chief executive officer now directly owns 2,273,100 shares in the company, valued at $29,686,686. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 539,224 shares of company stock valued at $6,723,090 in the last quarter. Insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALHC. nVerses Capital LLC purchased a new stake in Alignment Healthcare during the third quarter valued at approximately $95,000. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock worth $106,000 after purchasing an additional 2,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare in the third quarter worth approximately $131,000. Creative Planning boosted its position in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company's stock worth $147,000 after purchasing an additional 2,072 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock worth $286,000 after purchasing an additional 19,129 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.