Key Points
- EVP Joseph Konowiecki sold 4,930 shares at $7.20 each, worth $35,496, to cover tax withholding on vested equity awards; he retained 1,075,375 shares.
- Latest quarterly revenue rose 36.7% year over year to $1.36 billion, above the $1.31 billion consensus, while adjusted earnings per share matched estimates at a loss of $0.04.
- Analysts’ consensus rating is Hold, with an average price target of $14; six analysts rate the stock Buy, six Hold, and one Sell.
Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) EVP Joseph Konowiecki sold 4,930 shares of the business's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $7.20, for a total transaction of $35,496.00. Following the completion of the transaction, the executive vice president owned 1,075,375 shares in the company, valued at $7,742,700. This represents a 0.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Alignment Healthcare Stock Performance
NASDAQ:ALHC opened at $7.50 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.71 and a quick ratio of 1.71. The firm has a 50-day moving average of $8.79 and a two-hundred day moving average of $16.14. The stock has a market cap of $1.57 billion, a P/E ratio of 57.70 and a beta of 1.07. Alignment Healthcare, Inc. has a 1-year low of $6.01 and a 1-year high of $25.12.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Alignment Healthcare had a return on equity of 12.46% and a net margin of 0.59%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm earned $0.02 earnings per share. The company's revenue was up 36.7% on a year-over-year basis. On average, research analysts expect that Alignment Healthcare, Inc. will post -0.03 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on ALHC shares. Scotiabank set a $9.00 price target on Alignment Healthcare in a report on Friday, October 9th. JPMorgan Chase & Co. dropped their price objective on Alignment Healthcare from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, October 30th. Barclays cut their target price on Alignment Healthcare from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Friday, October 30th. KeyCorp lowered Alignment Healthcare from an "overweight" rating to a "sector weight" rating in a research report on Friday, October 30th. Finally, Weiss Ratings cut Alignment Healthcare from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, October 30th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.00.
Get Our Latest Stock Analysis on Alignment Healthcare
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Alignment Healthcare by 9.8% in the 2nd quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company's stock valued at $447,160,000 after purchasing an additional 1,681,427 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Alignment Healthcare in the second quarter worth about $184,799,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in Alignment Healthcare in the second quarter worth about $87,794,000. Bank of New York Mellon Corp acquired a new position in Alignment Healthcare in the second quarter worth about $87,077,000. Finally, Bank of America Corp DE increased its holdings in Alignment Healthcare by 156.5% in the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company's stock valued at $56,660,000 after buying an additional 1,961,778 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.
About Alignment Healthcare
(
Get Free Report)
Alignment Healthcare, Inc. is a technology-enabled healthcare company focused primarily on serving older adults through Medicare Advantage plans. Its health plans, offered under the Alignment Health Plan name, combine insurance coverage with care coordination and support intended to address members' medical and everyday health needs. The company uses a care model that includes personalized care teams, member support and technology to help coordinate services across providers. Its Medicare Advantage offerings include plan options such as HMO and PPO products, with availability and benefits varying by location.
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