James Head Sells 11,100 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock
by Mitch Edgeman · The Markets DailyAlignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) CFO James Head sold 11,100 shares of Alignment Healthcare stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $21.08, for a total value of $233,988.00. Following the completion of the transaction, the chief financial officer owned 173,495 shares in the company, valued at $3,657,274.60. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Alignment Healthcare Price Performance
Shares of NASDAQ ALHC traded down $0.35 during mid-day trading on Wednesday, reaching $21.31. The company had a trading volume of 4,986,662 shares, compared to its average volume of 3,171,031. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.80. The stock has a market cap of $4.35 billion, a PE ratio of -2,128.87, a P/E/G ratio of 2.74 and a beta of 1.20. The company has a 50-day moving average price of $19.37 and a two-hundred day moving average price of $18.96. Alignment Healthcare, Inc. has a 1-year low of $11.63 and a 1-year high of $23.87.
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The company’s quarterly revenue was up 44.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) EPS. On average, equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.
Analysts Set New Price Targets
ALHC has been the topic of a number of recent research reports. Robert W. Baird set a $28.00 target price on Alignment Healthcare in a report on Friday, January 30th. Piper Sandler lifted their target price on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Wall Street Zen downgraded Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, KeyCorp reiterated an “overweight” rating and set a $28.00 price target on shares of Alignment Healthcare in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.75.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its holdings in shares of Alignment Healthcare by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock valued at $249,715,000 after buying an additional 79,268 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Alignment Healthcare by 38.9% during the fourth quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock valued at $122,501,000 after buying an additional 1,735,962 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Alignment Healthcare by 6.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,452 shares of the company’s stock valued at $305,000 after buying an additional 996 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 25.6% during the fourth quarter. Mackenzie Financial Corp now owns 46,917 shares of the company’s stock valued at $901,000 after buying an additional 9,552 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Alignment Healthcare during the fourth quarter valued at $396,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.
About Alignment Healthcare
Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.
At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.