Alignment Healthcare Sees Unusually High Options Volume (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of unusually large options trading on Monday. Traders purchased 5,030 call options on the company. This represents an increase of 392% compared to the average daily volume of 1,023 call options.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $15.28, for a total value of $259,760,000.00. Following the completion of the transaction, the director directly owned 44,302,175 shares in the company, valued at $676,937,234. This trade represents a 27.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Dawn Christine Maroney sold 230,000 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $19.10, for a total value of $4,393,000.00. Following the completion of the transaction, the president owned 2,132,899 shares of the company’s stock, valued at approximately $40,738,370.90. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,795,262 shares of company stock valued at $272,980,496 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its holdings in Alignment Healthcare by 408.3% in the 1st quarter. Voya Investment Management LLC now owns 1,293,414 shares of the company’s stock valued at $24,083,000 after acquiring an additional 1,038,940 shares in the last quarter. Rhumbline Advisers raised its holdings in Alignment Healthcare by 4.4% in the 1st quarter. Rhumbline Advisers now owns 141,638 shares of the company’s stock valued at $2,637,000 after acquiring an additional 5,934 shares in the last quarter. Strs Ohio acquired a new position in Alignment Healthcare in the 1st quarter valued at $600,000. Acadian Asset Management LLC raised its holdings in Alignment Healthcare by 1,025.2% in the 1st quarter. Acadian Asset Management LLC now owns 375,949 shares of the company’s stock valued at $6,992,000 after acquiring an additional 342,537 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alignment Healthcare by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock valued at $5,729,000 after acquiring an additional 44,452 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $13.14 on Tuesday. The stock has a market cap of $2.60 billion, a P/E ratio of -27.38 and a beta of 1.16. The stock has a 50 day simple moving average of $14.92 and a 200 day simple moving average of $15.21. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.95. Alignment Healthcare has a 1-year low of $7.62 and a 1-year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $926.93 million during the quarter, compared to analysts’ expectations of $889.83 million. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.25) EPS. Research analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALHC. Robert W. Baird raised their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, April 15th. UBS Group raised their price target on Alignment Healthcare from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Stephens upgraded Alignment Healthcare to a “strong-buy” rating in a research note on Monday, June 2nd. Finally, Stifel Nicolaus raised their price target on Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.17.

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.