Alignment Healthcare (NASDAQ:ALHC) Shares Up 10.3% – Here’s What Happened

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) shot up 10.3% during trading on Tuesday . The company traded as high as $16.87 and last traded at $16.9240. 1,248,266 shares were traded during trading, a decline of 69% from the average session volume of 4,012,689 shares. The stock had previously closed at $15.35.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALHC. Zacks Research raised Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research note on Thursday, May 7th. Wolfe Research began coverage on Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. UBS Group lifted their price target on Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Stock Performance

The stock has a 50 day moving average of $18.44 and a 200 day moving average of $19.37. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 228.44, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, analysts predict that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling

In related news, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $16.89, for a total value of $5,033,220.00. Following the transaction, the chief executive officer directly owned 1,508,641 shares of the company’s stock, valued at $25,480,946.49. The trade was a 16.49% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total value of $655,602.16. Following the completion of the transaction, the president directly owned 1,058,813 shares in the company, valued at approximately $18,889,223.92. This represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,286,685 shares of company stock worth $24,333,863. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Alignment Healthcare by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock valued at $305,983,000 after buying an additional 1,524,218 shares during the period. Wellington Management Group LLP lifted its stake in Alignment Healthcare by 26.9% in the fourth quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock valued at $277,900,000 after buying an additional 2,981,166 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Alignment Healthcare by 0.6% in 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 during the period. Invesco Ltd. lifted its stake in Alignment Healthcare by 38.9% in 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 during the period. Finally, 8 Knots Management LLC lifted its stake in Alignment Healthcare by 6.4% in the second quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock valued at $70,222,000 after buying an additional 300,409 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

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.