Alignment Healthcare (NASDAQ:ALHC) Shares Gap Up – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $13.46, but opened at $14.10. Alignment Healthcare shares last traded at $13.77, with a volume of 199,778 shares traded.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALHC. Robert W. Baird raised their target price 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. Piper Sandler reissued an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. 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, October 30th. TD Cowen increased their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Alignment Healthcare Trading Down 2.9 %

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 firm has a market capitalization of $2.45 billion, a PE ratio of -16.60 and a beta of 1.45. The business has a 50 day moving average price of $11.49 and a 200-day moving average price of $9.28.

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

Insiders Place Their Bets

In other news, insider Dawn Christine Maroney sold 7,074 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total transaction of $63,807.48. Following the sale, the insider now owns 1,789,023 shares of the company’s stock, valued at $16,136,987.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dawn Christine Maroney sold 7,074 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares in the company, valued at $16,136,987.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 485,507 shares of company stock worth $5,818,335. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently bought and sold shares of ALHC. Creative Planning raised its holdings in shares of Alignment Healthcare by 20.0% in 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 during the last quarter. Principal Financial Group Inc. raised its stake in Alignment Healthcare by 18.1% in 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 lifted its holdings in Alignment Healthcare by 9.2% in the 1st 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 in the last quarter. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare during the 3rd quarter worth about $95,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after buying an additional 9,595 shares in the last quarter. Hedge funds and other 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.