Alignment Healthcare (NASDAQ:ALHC) Shares Gap Down – Time to Sell?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares gapped down prior to trading on Tuesday . The stock had previously closed at $16.24, but opened at $15.50. Alignment Healthcare shares last traded at $15.57, with a volume of 695,498 shares.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America increased their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. UBS Group raised their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Finally, Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.17.

Alignment Healthcare Trading Down 3.0%

The stock’s 50 day moving average is $17.32 and its 200-day moving average is $14.62. The company has a market cap of $3.12 billion, a P/E ratio of -20.47 and a beta of 1.32. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. The firm had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. Research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $14.84, for a total value of $1,335,600.00. Following the completion of the transaction, the chief executive officer now owns 1,913,100 shares of the company’s stock, valued at approximately $28,390,404. The trade was a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert L. Scavo sold 55,403 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $860,408.59. Following the transaction, the insider now owns 673,419 shares in the company, valued at $10,458,197.07. This represents a 7.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,166,977 shares of company stock worth $35,041,511. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC grew its position in Alignment Healthcare by 87.6% in the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company’s stock worth $40,000 after purchasing an additional 1,011 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new position in Alignment Healthcare in the first quarter valued at about $42,000. R Squared Ltd purchased a new position in Alignment Healthcare in the fourth quarter worth about $55,000. Amalgamated Bank grew its stake in shares of Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company’s stock valued at $65,000 after purchasing an additional 616 shares during the period. Finally, RiverPark Advisors LLC bought a new stake in shares of Alignment Healthcare during the 4th quarter valued at about $106,000. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.