Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s stock price fell 4.3% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $14.33 and last traded at $14.67. 1,046,953 shares changed hands during trading, a decline of 45% from the average session volume of 1,912,671 shares. The stock had previously closed at $15.33.
Specifically, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the transaction, the director now owns 44,302,175 shares in the company, valued at $676,937,234. This trade represents a 27.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ALHC shares. Stephens restated an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. UBS Group upped their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Bank of America boosted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.17.
View Our Latest Stock Analysis on Alignment Healthcare
Alignment Healthcare Stock Performance
The stock has a market capitalization of $2.91 billion, a PE ratio of -19.14 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a 50 day moving average of $17.18 and a 200-day moving average of $14.66.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. The company had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm's quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) EPS. Research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.
Institutional Investors Weigh In On Alignment Healthcare
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. MCF Advisors LLC increased its stake in shares of Alignment Healthcare by 87.6% in the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after acquiring an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Alignment Healthcare in the first quarter valued at about $42,000. Amalgamated Bank grew its stake in Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after purchasing an additional 616 shares in the last quarter. R Squared Ltd acquired a new position in Alignment Healthcare in the 4th quarter worth about $55,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Alignment Healthcare during the 4th quarter worth about $106,000. Hedge funds and other institutional investors own 86.19% of the company's stock.
Alignment Healthcare Company Profile
(
Get Free Report)
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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