Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $6.92, but opened at $6.55. Alignment Healthcare shares last traded at $5.99, with a volume of 165,037 shares changing hands.
The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 9.17% and a negative return on equity of 73.02%. The firm had revenue of $465.39 million during the quarter, compared to the consensus estimate of $444.56 million. During the same period last year, the business earned ($0.31) EPS. The business’s revenue was up 28.6% on a year-over-year basis.
Wall Street Analysts Forecast Growth
ALHC has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on shares of Alignment Healthcare in a report on Wednesday, January 24th. They set a “buy” rating and a $11.00 target price for the company. Stephens lifted their price objective on shares of Alignment Healthcare from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Raymond James lifted their price objective on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 9th. UBS Group boosted their target price on shares of Alignment Healthcare from $6.50 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Finally, Bank of America cut shares of Alignment Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the company from $7.50 to $7.25 in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $10.70.
Institutional Investors Weigh In On Alignment Healthcare
A number of institutional investors have recently added to or reduced their stakes in ALHC. Swiss National Bank grew its holdings in Alignment Healthcare by 7.3% during the 1st quarter. Swiss National Bank now owns 88,500 shares of the company’s stock worth $994,000 after acquiring an additional 6,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Alignment Healthcare by 7.7% in the 1st quarter. Principal Financial Group Inc. now owns 14,524 shares of the company’s stock valued at $163,000 after purchasing an additional 1,034 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Alignment Healthcare by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 45,938 shares of the company’s stock valued at $516,000 after purchasing an additional 16,380 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Alignment Healthcare by 4.2% in the 1st quarter. Panagora Asset Management Inc. now owns 154,586 shares of the company’s stock valued at $1,736,000 after purchasing an additional 6,178 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Alignment Healthcare by 13.0% in the 1st quarter. Rhumbline Advisers now owns 78,349 shares of the company’s stock valued at $880,000 after purchasing an additional 9,042 shares during the last quarter. 85.58% of the stock is owned by institutional investors.
Alignment Healthcare Stock Performance
The stock’s 50 day moving average price is $7.40 and its 200 day moving average price is $6.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $1.12 billion, a P/E ratio of -7.05 and a beta of 1.42.
Alignment Healthcare Company Profile
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, Nevada, Arizona, Florida, and Texas.