Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down – Time to Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $10.00, but opened at $9.53. Alignment Healthcare shares last traded at $9.46, with a volume of 872,381 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALHC shares. Stifel Nicolaus raised their price objective 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. Barclays raised their price target on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Robert W. Baird upped their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Finally, TD Cowen upped 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $9.83.

Alignment Healthcare Price Performance

The company’s 50-day moving average price is $9.73 and its two-hundred day moving average price is $7.84. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $2.08 billion, a P/E ratio of -12.94 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, sell-side analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

Insiders Place Their Bets

In other news, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total value of $174,000.00. Following the completion of the transaction, the insider now directly owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total value of $174,000.00. Following the sale, the insider now owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Thomas Freeman sold 22,100 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total value of $221,000.00. Following the completion of the sale, the chief financial officer now directly owns 497,329 shares of the company’s stock, valued at approximately $4,973,290. The disclosure for this sale can be found here. Insiders have sold a total of 290,015 shares of company stock worth $2,907,113 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. Principal Financial Group Inc. bought a new stake in shares of Alignment Healthcare in the first quarter valued at approximately $57,000. Virtu Financial LLC purchased a new stake in Alignment Healthcare in the first quarter valued at approximately $57,000. Allspring Global Investments Holdings LLC grew its position in Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after acquiring an additional 3,334 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after purchasing an additional 19,129 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in 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. Institutional investors own 86.19% of the company’s stock.

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.