Stock Traders Purchase High Volume of Call Options on Alignment Healthcare (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) saw unusually large options trading activity on Wednesday. Investors purchased 2,978 call options on the stock. This is an increase of approximately 106% compared to the typical daily volume of 1,444 call options.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC traded down $0.44 during midday trading on Wednesday, hitting $11.27. The company had a trading volume of 148,436 shares, compared to its average volume of 1,010,031. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -13.51 and a beta of 1.47. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $12.36. The business has a 50-day simple moving average of $10.62 and a two-hundred day simple moving average of $8.69. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The company's quarterly revenue was up 51.6% on a year-over-year basis. Equities research analysts anticipate that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Dawn Christine Maroney sold 20,000 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $8.70, for a total value of $174,000.00. Following the transaction, the insider now directly owns 1,796,097 shares of the company's stock, valued at approximately $15,626,043.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the sale, the chief financial officer now directly owns 399,429 shares of the company's stock, valued at $3,998,284.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the transaction, the insider now directly owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,940 shares of company stock valued at $3,487,014 in the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the third quarter valued at about $95,000. Creative Planning grew its holdings 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 purchasing an additional 2,072 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Alignment Healthcare during the third quarter worth approximately $521,000. Mackenzie Financial Corp raised its stake in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock valued at $286,000 after purchasing an additional 19,129 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company's stock worth $434,000 after acquiring an additional 9,595 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Cowen increased their price target on shares of Alignment Healthcare to $10.00 and gave the company a "buy" rating in a research note on Wednesday. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, July 26th. 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. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Piper Sandler restated an "overweight" rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $10.22.

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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