Alignment Healthcare (NASDAQ:ALHC) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Alignment Healthcare (NASDAQ:ALHC) announced its earnings results on Thursday. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01), Briefing.com reports. The company had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. Alignment Healthcare’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.20) earnings per share.

Alignment Healthcare Price Performance

Alignment Healthcare stock traded up $1.37 during mid-day trading on Friday, reaching $6.63. 3,023,068 shares of the company’s stock traded hands, compared to its average volume of 898,686. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average of $5.11 and a two-hundred day moving average of $6.55. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -8.39 and a beta of 1.23.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao bought 103,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the transaction, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 28,522 shares of Alignment Healthcare stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the transaction, the chief financial officer now directly owns 869,706 shares of the company’s stock, valued at $4,392,015.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao bought 103,000 shares of Alignment Healthcare stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the purchase, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. Insiders sold 90,213 shares of company stock valued at $460,587 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

ALHC has been the topic of a number of analyst reports. Barclays assumed coverage on Alignment Healthcare in a research report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective on the stock. UBS Group dropped their price target on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Piper Sandler reiterated a “neutral” rating and set a $6.00 price objective (down previously from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Finally, Stephens raised their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.83.

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.