Alignment Healthcare (NASDAQ:ALHC) Sees Large Volume Increase After Analyst Upgrade

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) saw an uptick in trading volume on Thursday after Barclays raised their price target on the stock from $7.00 to $8.00. Barclays currently has an underweight rating on the stock. 632,003 shares were traded during trading, a decline of 38% from the previous session’s volume of 1,019,669 shares.The stock last traded at $11.75 and had previously closed at $11.73.

A number of other research firms have also weighed in on ALHC. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. TD Cowen boosted their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Robert W. Baird lifted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, UBS Group increased their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 4,483 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the transaction, the chief financial officer now directly owns 159,626 shares in the company, valued at approximately $1,917,108.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Thomas Freeman sold 4,483 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total transaction of $53,840.83. Following the transaction, the chief financial officer now directly owns 159,626 shares in the company, valued at $1,917,108.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the sale, the insider now owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 354,287 shares of company stock valued at $3,964,670 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Several large investors have recently bought and sold shares of the stock. Creative Planning grew its holdings in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares during the last quarter. Principal Financial Group Inc. grew its stake in Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after purchasing an additional 2,077 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares during the period. nVerses Capital LLC acquired a new position in shares of Alignment Healthcare in the third quarter valued at about $95,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Alignment Healthcare by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after purchasing an additional 9,595 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

The stock has a fifty day moving average of $10.82 and a 200 day moving average of $8.79. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -16.82 and a beta of 1.47. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) EPS. On average, analysts expect that Alignment Healthcare, Inc. will post -0.68 EPS for the current fiscal year.

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.