Alignment Healthcare (NASDAQ:ALHC) Announces Earnings Results

Alignment Healthcare (NASDAQ:ALHCGet Rating) issued its quarterly earnings results on Thursday. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01, MarketWatch Earnings reports. Alignment Healthcare had a negative net margin of 16.72% and a negative return on equity of 58.92%. During the same quarter in the previous year, the company earned ($0.37) EPS.

Shares of ALHC traded down $0.07 on Friday, reaching $9.68. The company’s stock had a trading volume of 358,200 shares, compared to its average volume of 327,083. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.49. Alignment Healthcare has a twelve month low of $6.14 and a twelve month high of $27.92. The stock has a market capitalization of $1.81 billion, a PE ratio of -9.58 and a beta of 2.54. The firm has a fifty day moving average of $10.16 and a 200-day moving average of $12.38.

ALHC has been the topic of a number of research analyst reports. Piper Sandler cut their price objective on shares of Alignment Healthcare from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, February 24th. Raymond James cut their price objective on shares of Alignment Healthcare from $30.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 12th. SVB Leerink initiated coverage on shares of Alignment Healthcare in a research report on Monday, April 4th. They set an “outperform” rating and a $19.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Alignment Healthcare from $25.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, March 7th. Finally, Cowen cut their price objective on shares of Alignment Healthcare from $24.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 4th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $17.89.

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 4,944 shares of the stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $11.18, for a total value of $55,273.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao sold 26,366 shares of the stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $11.18, for a total transaction of $294,771.88. The disclosure for this sale can be found here. Insiders sold a total of 35,908 shares of company stock worth $401,451 in the last 90 days.

Hedge funds have recently modified their holdings of the company. UBS Group AG increased its stake in shares of Alignment Healthcare by 156.9% during the 3rd quarter. UBS Group AG now owns 1,734 shares of the company’s stock worth $28,000 after purchasing an additional 1,059 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Alignment Healthcare by 26.8% during the 2nd quarter. Royal Bank of Canada now owns 3,804 shares of the company’s stock worth $89,000 after purchasing an additional 804 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $193,000. Cubist Systematic Strategies LLC boosted its holdings in Alignment Healthcare by 17.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 16,933 shares of the company’s stock worth $271,000 after buying an additional 2,545 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Alignment Healthcare by 523.2% in the 4th quarter. Legal & General Group Plc now owns 17,320 shares of the company’s stock worth $244,000 after buying an additional 14,541 shares during the period. Institutional investors own 82.68% of the company’s stock.

Alignment Healthcare Company Profile (Get Rating)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.

See Also

Earnings History for Alignment Healthcare (NASDAQ:ALHC)

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