Does Alignment Healthcare Inc’s (NASDAQ:ALHC) Current Price Make It Worth Investing In?

During the last session, Alignment Healthcare Inc (NASDAQ:ALHC)’s traded shares were 1.0 million, with the beta value of the company hitting 1.30. At the end of the trading day, the stock’s price was $4.47, reflecting an intraday loss of -7.26% or -$0.35. The 52-week high for the ALHC share is $9.20, that puts it down -105.82 from that peak though still a striking -0.22% loss since the share price plummeted to a 52-week low of $4.48. The company’s market capitalization is $844.74M, and the average intraday trading volume over the past 10 days was 0.69 million shares, and the average trade volume was 912.25K shares over the past three months.

Alignment Healthcare Inc (NASDAQ:ALHC) trade information

Alignment Healthcare Inc (ALHC) registered a -7.26% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -7.26% in intraday trading to $4.47, hitting a weekly high. The stock’s 5-day price performance is -4.89%, and it has moved by -17.22% in 30 days. Based on these gigs, the overall price performance for the year is -29.72%. The short interest in Alignment Healthcare Inc (NASDAQ:ALHC) is 4.78 million shares and it means that shorts have 3.93 day(s) to cover.

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Alignment Healthcare Inc (ALHC) estimates and forecasts

Statistics show that Alignment Healthcare Inc has outperformed its competitors in share price, compared to the industry in which it operates. Alignment Healthcare Inc (ALHC) shares have gone down -36.42% during the last six months, with a year-to-date growth rate more than the industry average at 25.32% against 13.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -10.00% this quarter and then jump 26.70% in the quarter after that. In the rating firms’ projections, revenue will increase 31.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $596.38 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $606.85 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $439.15 million and $439.03 million respectively. In this case, analysts expect current quarter sales to grow by 35.80% and then jump by 38.20% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -35.06%. While earnings are projected to return 23.88% in 2024.

ALHC Dividends

Alignment Healthcare Inc is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Alignment Healthcare Inc (NASDAQ:ALHC)’s Major holders

Alignment Healthcare Inc insiders own 6.91% of total outstanding shares while institutional holders control 86.54%, with the float percentage being 92.96%. General Atlantic, L.P. is the largest shareholder of the company, while 174 institutions own stock in it. As of Jun 29, 2023, the company held over 60.99 million shares (or 32.37% of all shares), a total value of $350.71 million in shares.

The next largest institutional holding, with 17.92 million shares, is of Warburg Pincus LLC’s that is approximately 9.51% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $103.06 million.

Also, the Mutual Funds coming in first place with the largest holdings of Alignment Healthcare Inc (ALHC) shares are Fidelity Select Portfolios – Health Care and Price (T.Rowe) Small-Cap Value Fund. Data provided on Aug 30, 2023 indicates that Fidelity Select Portfolios – Health Care owns about 3.8 million shares. This amounts to just over 2.02 percent of the company’s overall shares, with a $22.19 million market value. The same data shows that the other fund manager holds slightly less at 3.21 million, or about 1.70% of the stock, which is worth about $18.46 million.