Alignment Healthcare (NASDAQ:ALHC) Trading Down 5.7% – Here’s What Happened

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) dropped 5.7% on Wednesday . The company traded as low as $12.82 and last traded at $12.6990. 422,099 shares were traded during trading, a decline of 91% from the average daily volume of 4,520,511 shares. The stock had previously closed at $13.46.

Analyst Ratings Changes

ALHC has been the topic of several analyst reports. Wall Street Zen downgraded Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Alignment Healthcare in a research report on Tuesday, August 4th. Barclays dropped their price target 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. Finally, KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Alignment Healthcare Stock Down 2.1%

The company has a 50 day moving average price of $16.39 and a two-hundred day moving average price of $18.07. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market cap of $2.65 billion, a PE ratio of 67.16 and a beta of 1.11.

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

Insider Buying and Selling at Alignment Healthcare

In other news, EVP Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total value of $600,000.00. Following the completion of the sale, the executive vice president directly owned 1,103,816 shares in the company, valued at $26,491,584. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Maroney sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, 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. In the last 90 days, insiders have sold 676,000 shares of company stock worth $11,816,020. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. Wellington Management Group LLP raised its stake in 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 last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Alignment Healthcare by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock worth $249,715,000 after buying an additional 79,268 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Alignment Healthcare in the 2nd quarter worth $184,799,000. Invesco Ltd. grew its holdings in shares of Alignment Healthcare by 38.9% in the fourth quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock worth $122,501,000 after acquiring an additional 1,735,962 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of Alignment Healthcare by 2,587.6% in the second quarter. California State Teachers Retirement System now owns 5,326,749 shares of the company’s stock worth $126,830,000 after acquiring an additional 5,128,549 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.