Alignment Healthcare (NASDAQ:ALHC) Stock Price Down 4% – Here’s What Happened
by Tristan Rich · The Markets DailyAlignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report)’s stock price fell 4% on Wednesday . The company traded as low as $18.94 and last traded at $18.7560. 1,254,294 shares were traded during mid-day trading, a decline of 59% from the average session volume of 3,029,696 shares. The stock had previously closed at $19.53.
Wall Street Analyst Weigh In
A number of equities analysts have commented on ALHC shares. The Goldman Sachs Group restated a “buy” rating and set a $22.00 price objective on shares of Alignment Healthcare in a research report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price target on shares of Alignment Healthcare from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Barclays increased their price target on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research report on Monday, November 24th. Finally, Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.35.
Check Out Our Latest Report on ALHC
Alignment Healthcare Stock Performance
The stock’s 50 day moving average price is $18.12 and its two-hundred day moving average price is $16.12. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -156.30 and a beta of 1.16.
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $993.70 million for the quarter, compared to the consensus estimate of $980.90 million. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. The firm’s revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.
Insider Activity at Alignment Healthcare
In related news, insider Christopher J. Joyce sold 19,706 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $19.33, for a total value of $380,916.98. Following the completion of the transaction, the insider directly owned 323,886 shares of the company’s stock, valued at $6,260,716.38. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $19.00, for a total value of $475,000.00. Following the transaction, the director directly owned 1,056,141 shares of the company’s stock, valued at approximately $20,066,679. This represents a 2.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 842,157 shares of company stock worth $15,187,475. 7.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. lifted its holdings in shares of Alignment Healthcare by 31.1% in the first quarter. Raymond James Financial Inc. now owns 206,174 shares of the company’s stock valued at $3,839,000 after purchasing an additional 48,901 shares in the last quarter. Strs Ohio purchased a new position in shares of Alignment Healthcare during the 1st quarter worth approximately $600,000. Ameritas Investment Partners Inc. raised its position in shares of Alignment Healthcare by 32.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock worth $182,000 after purchasing an additional 3,225 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Alignment Healthcare by 1,025.2% during the 1st quarter. Acadian Asset Management LLC now owns 375,949 shares of the company’s stock worth $6,992,000 after purchasing an additional 342,537 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Alignment Healthcare by 101.5% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 69,497 shares of the company’s stock valued at $1,294,000 after buying an additional 35,000 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.
Alignment Healthcare Company Profile
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.