Alignment Healthcare Sees Unusually High Options Volume (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the recipient of unusually large options trading on Monday. Traders purchased 15,153 call options on the stock. This is an increase of approximately 467% compared to the typical daily volume of 2,673 call options.

Alignment Healthcare Trading Up 0.4 %

Shares of NASDAQ:ALHC opened at $11.43 on Tuesday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -14.84 and a beta of 1.42. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $14.25. The company’s fifty day simple moving average is $11.93 and its 200 day simple moving average is $9.97.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. As a group, research analysts forecast that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Hakan Kardes sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $11.48, for a total transaction of $287,000.00. Following the completion of the sale, the insider now directly owns 380,444 shares of the company’s stock, valued at $4,367,497.12. The trade was a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 8,561 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total transaction of $85,695.61. Following the completion of the transaction, the chief financial officer now directly owns 399,429 shares in the company, valued at approximately $3,998,284.29. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 603,057 shares of company stock valued at $7,276,931. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in Alignment Healthcare during the 3rd quarter worth about $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare in the third quarter valued at about $131,000. Creative Planning raised its holdings in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares in the last quarter. Principal Financial Group Inc. boosted its position in Alignment Healthcare by 18.1% during the second 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. Finally, Intech Investment Management LLC bought a new position in Alignment Healthcare in the third quarter valued at approximately $315,000. Institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several analyst reports. UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays increased their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $17.00 in a report on Tuesday, December 3rd. KeyCorp initiated coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Finally, Robert W. Baird boosted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.44.

About Alignment Healthcare

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.