Investors Buy Large Volume of Alignment Healthcare Call Options (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of unusually large options trading on Wednesday. Investors bought 2,978 call options on the company. This is an increase of 106% compared to the average daily volume of 1,444 call options.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALHC. TD Cowen upped their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Stifel Nicolaus lifted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. UBS Group upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Finally, Barclays boosted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Insider Buying and Selling

In related news, CFO Robert Thomas Freeman sold 4,483 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $12.01, for a total transaction of $53,840.83. Following the transaction, the chief financial officer now owns 159,626 shares of the company’s stock, valued at $1,917,108.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total value of $323,100.00. Following the completion of the sale, the insider now directly owns 1,726,097 shares in the company, valued at $18,590,064.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 4,483 shares of Alignment Healthcare 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 transaction, the chief financial officer now owns 159,626 shares in the company, valued at $1,917,108.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,287 shares of company stock valued at $3,964,670 over the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new stake in Alignment Healthcare in the 1st quarter valued at $918,000. Vanguard Group Inc. boosted its holdings in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after buying an additional 93,262 shares during the period. Deerfield Management Company L.P. Series C grew its stake in Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after buying an additional 2,630,788 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Alignment Healthcare by 27.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after acquiring an additional 82,559 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in Alignment Healthcare during the first quarter worth approximately $57,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $12.40 on Friday. The stock has a market capitalization of $2.37 billion, a PE ratio of -16.10 and a beta of 1.47. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $12.44. The firm has a fifty day simple moving average of $10.74 and a 200 day simple moving average of $8.73. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. On average, research analysts expect that Alignment Healthcare will post -0.67 EPS for the current fiscal year.

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.