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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) gapped up prior to trading on Friday . The stock had previously closed at $15.42, but opened at $16.99. Alignment Healthcare shares last traded at $15.40, with a volume of 222 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ALHC shares. Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stifel Nicolaus boosted their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. Finally, Bank of America raised 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Alignment Healthcare Trading Down 1.9 %

The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $2.99 billion, a P/E ratio of -19.64 and a beta of 1.32. The firm’s 50-day simple moving average is $17.34 and its 200 day simple moving average is $14.45.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping 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 net margin of 5.84% and a negative return on equity of 108.69%. Alignment Healthcare’s revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.25) EPS. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Andreas P. Wagner sold 14,878 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at $2,888,726.30. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the transaction, the president now directly owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,181,855 shares of company stock worth $35,166,057. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank lifted its holdings in shares of Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company’s stock valued at $65,000 after buying an additional 616 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Alignment Healthcare by 8.6% in the first quarter. Ballentine Partners LLC now owns 11,674 shares of the company’s stock valued at $217,000 after acquiring an additional 924 shares during the period. MCF Advisors LLC increased its holdings in shares of Alignment Healthcare by 87.6% during the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company’s stock worth $40,000 after purchasing an additional 1,011 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Alignment Healthcare by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after acquiring an additional 2,154 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Alignment Healthcare in the 1st quarter valued at $42,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.