Alignment Healthcare Sees Unusually Large Options Volume (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of unusually large options trading activity on Wednesday. Traders bought 2,978 call options on the company. This is an increase of approximately 106% compared to the average daily volume of 1,444 call options.

Analysts Set New Price Targets

ALHC has been the subject of several recent analyst reports. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a "sector weight" rating for the company. Stifel Nicolaus upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. TD Cowen lifted their target price on Alignment Healthcare to $10.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler restated an "overweight" rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Finally, Barclays increased their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $10.33.

Alignment Healthcare Price Performance

Shares of ALHC traded up $0.02 during mid-day trading on Wednesday, hitting $11.73. 2,774,260 shares of the stock were exchanged, compared to its average volume of 1,022,535. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $2.24 billion, a PE ratio of -15.35 and a beta of 1.47. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.36. The firm has a 50-day moving average of $10.62 and a two-hundred day moving average of $8.69.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The firm had revenue of $692.43 million for the quarter, compared to analysts' expectations of $662.11 million. During the same period in the prior year, the company earned ($0.19) EPS. The business's revenue was up 51.6% compared to the same quarter last year. On average, equities analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Robert Thomas Freeman sold 30,500 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $11.50, for a total value of $350,750.00. Following the transaction, the chief financial officer now directly owns 164,109 shares in the company, valued at $1,887,253.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Hakan Kardes sold 25,000 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $11.48, for a total transaction of $287,000.00. Following the completion of the sale, the insider now owns 380,444 shares of the company's stock, valued at $4,367,497.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 30,500 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $11.50, for a total value of $350,750.00. Following the completion of the transaction, the chief financial officer now directly owns 164,109 shares in the company, valued at approximately $1,887,253.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,940 shares of company stock valued at $3,487,014. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of Alignment Healthcare during the 3rd quarter worth about $95,000. Virtu Financial LLC bought a new stake in Alignment Healthcare in the first quarter worth about $57,000. Principal Financial Group Inc. purchased a new position in shares of Alignment Healthcare during the first quarter valued at approximately $57,000. Creative Planning grew its stake in shares of 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 buying an additional 2,072 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings 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 buying an additional 19,129 shares during the period. Institutional investors own 86.19% 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.