Alignment Healthcare (NASDAQ:ALHC) Trading Up 5.9% – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price was up 5.9% on Wednesday . The stock traded as high as $14.41 and last traded at $14.39. Approximately 661,328 shares traded hands during trading, a decline of 85% from the average session volume of 4,532,077 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

A number of research analysts have issued reports on ALHC shares. TD Cowen reiterated a “buy” rating on shares of Alignment Healthcare in a research report on Monday, August 3rd. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Alignment Healthcare in a report on Tuesday, August 4th. Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Barclays lowered their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Alignment Healthcare Price Performance

The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 74.83 and a beta of 1.10. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The business has a 50-day simple moving average of $18.57 and a two-hundred day simple moving average of $18.68.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. As a group, research analysts predict that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other Alignment Healthcare news, insider Mark D. Kent purchased 14,848 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the transaction, the insider owned 14,848 shares in the company, valued at $197,626.88. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $19.55, for a total transaction of $586,500.00. Following the completion of the sale, the president directly owned 947,313 shares of the company’s stock, valued at $18,519,969.15. The trade was a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,009,951 shares of company stock valued at $18,597,287 over the last quarter. Insiders own 5.20% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Alignment Healthcare by 9.8% during the 2nd quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company’s stock valued at $447,160,000 after buying an additional 1,681,427 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alignment Healthcare by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock worth $305,983,000 after acquiring an additional 1,524,218 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Alignment Healthcare by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock worth $249,715,000 after acquiring an additional 79,268 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Alignment Healthcare during the second quarter valued at $184,799,000. Finally, Invesco Ltd. boosted its position in Alignment Healthcare by 38.9% during the fourth quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock valued at $122,501,000 after purchasing an additional 1,735,962 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.