Alignment Healthcare Inc (NASDAQ: ALHC) stock fell -0.98% on Friday to $6.54 against a previous-day closing price of $6.61. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.6 million shares. During the session, the Healthcare Plans company that operates in wider Healthcare sector, reached to the highest price of $6.68 whereas the lowest price it dropped to was $6.42. The 52-week range on ALHC shows that it touched its highest point at $13.44 and its lowest point at $4.88 during that stretch. It currently has a 1-year price target of $9.19. Beta for the stock currently stands at 1.30.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALHC was up-trending over the past week, with a rise of 9.00%, but this was down by -9.29% over a month. Three-month performance surged to 6.17% while six-month performance fell -2.82%. The stock lost -48.58% in the past year, while it has lost -44.39% so far this year. A look at the trailing 12-month EPS for ALHC yields -0.86 with Next year EPS estimates of -0.63. For the next quarter, that number is -0.22. This implies an EPS growth rate of 9.32% for this year and 16.46% for next year.
Float and Shares Shorts:
At present, 187.28 million ALHC shares are outstanding with a float of 95.62 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.01 million, which was 2.12% higher than short shares on Sep 28, 2023. In addition to Mr. John E. Kao as the firm’s Founder, President, CEO & Director, Mr. Robert Thomas Freeman serves as its Chief Financial Officer.
Through their ownership of 85.95% of ALHC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.75% of ALHC, in contrast to 25.91% held by mutual funds. Shares owned by individuals account for 17.44%. As the largest shareholder in ALHC with 8.90% of the stake, Fidelity Management & Research Co holds 16,769,867 shares worth 16,769,867. A second-largest stockholder of ALHC, T. Rowe Price Investment Manageme, holds 11,392,902 shares, controlling over 6.05% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in ALHC, holding 8,854,109 shares or 4.70% stake. With a 2.02% stake in ALHC, the Fidelity Select Port. – Health Ca is the largest stakeholder. A total of 3,800,000 shares are owned by the mutual fund manager. The T Rowe Price Small Cap Value Fund, which owns about 1.61% of ALHC stock, is the second-largest Mutual Fund holder. It holds 3,023,610 shares valued at 20.8 million. T Rowe Price Small Cap Stock Fund holds 1.54% of the stake in ALHC, owning 2,909,541 shares worth 20.02 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALHC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALHC analysts setting a high price target of $12.00 and a low target of $6.50, the average target price over the next 12 months is $9.19. Based on these targets, ALHC could surge 83.49% to reach the target high and fall by -0.61% to reach the target low. Reaching the average price target will result in a growth of 40.52% from current levels.
Summary of Insider Activity:
Insiders traded ALHC stock several times over the past three months with 2 Buys and 1 Sells. In these transactions, 457,524 shares were bought while 15,474 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 980,055 while 344,838 shares were sold.