Alignment Healthcare (NASDAQ:ALHC) Trading Down 4.3% on Insider Selling
Shares of Alignment Healthcare (NASDAQ:ALHC) fell 4.3% after an insider sold 17 million shares at $15.28, reducing their ownership by 27.73%. The stock traded between $14.33 and $14.67, with a volume decline of 45%. Analysts have mixed ratings, with price targets ranging from $9.00 to $23.00. The company reported a revenue increase of 47.5% year-over-year, with a quarterly EPS of -$0.05, surpassing estimates. Institutional investors hold 86.19% of the stock, indicating strong institutional interest.
Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) traded down 4.3% on Thursday after an insider sold shares in the company. The stock traded as low as $14.33 and last traded at $14.67. 1,046,953 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,912,671 shares. The stock had previously closed at $15.33.
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Specifically, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.28, for a total value of $259,760,000.00. Following the completion of the sale, the director now owns 44,302,175 shares of the company's stock, valued at $676,937,234. This trade represents a 27.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Stephens reissued an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Piper Sandler raised their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Finally, Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.17.
Check Out Our Latest Stock Analysis on Alignment Healthcare
Alignment Healthcare Price Performance
The company's 50-day simple moving average is $17.31 and its 200 day simple moving average is $14.63. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -19.09 and a beta of 1.32.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. During the same quarter in the prior year, the company posted ($0.25) EPS. The firm's revenue was up 47.5% on a year-over-year basis. Equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.
Institutional Trading of Alignment Healthcare
A number of institutional investors and hedge funds have recently modified their holdings of ALHC. Wellington Management Group LLP lifted its position in Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Millennium Management LLC boosted its stake in Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock valued at $38,122,000 after purchasing an additional 2,896,311 shares during the period. Point72 Asset Management L.P. acquired a new stake in Alignment Healthcare in the 4th quarter valued at approximately $20,087,000. Finally, Invesco Ltd. grew its holdings in Alignment Healthcare by 1,415.7% in the 1st quarter. Invesco Ltd. now owns 1,875,790 shares of the company's stock valued at $34,927,000 after buying an additional 1,752,033 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.
About Alignment Healthcare
(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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