Alignment Healthcare (NASDAQ:ALHC) Shares Up 7.5% – Time to Buy?

10 Oct 2024, 16:50 by Teresa Graham · The Cerbat Gem

Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report)’s stock price traded up 7.5% on Tuesday . The stock traded as high as $11.99 and last traded at $11.66. 1,214,676 shares were traded during mid-day trading, an increase of 20% from the average session volume of 1,010,232 shares. The stock had previously closed at $10.85.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays boosted their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Piper Sandler reissued an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Robert W. Baird lifted their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. TD Cowen boosted their target price 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. Finally, 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 report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Check Out Our Latest Stock Analysis on ALHC

Alignment Healthcare Price Performance

The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s 50-day moving average is $9.92 and its two-hundred day moving average is $8.04. The stock has a market cap of $2.16 billion, a PE ratio of -13.31 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm had revenue of $681.29 million during the quarter, compared to analysts’ expectations of $637.66 million. During the same period in the previous year, the firm posted ($0.15) EPS. Alignment Healthcare’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 14,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $174,000.00. Following the sale, the chief financial officer now owns 264,429 shares of the company’s stock, valued at approximately $3,173,148. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 14,500 shares of Alignment Healthcare stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.00, for a total transaction of $174,000.00. Following the transaction, the chief financial officer now owns 264,429 shares of the company’s stock, valued at $3,173,148. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the insider now owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,015 shares of company stock valued at $2,907,113 over the last quarter. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Alignment Healthcare during the 3rd quarter valued at approximately $521,000. Mackenzie Financial Corp raised its stake in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after purchasing an additional 19,129 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake 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 purchasing an additional 9,595 shares during the last quarter. Deerfield Management Company L.P. Series C grew its position 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. Finally, AQR Capital Management LLC purchased a new position in Alignment Healthcare in the 2nd quarter valued at $1,512,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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