Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $8.69 Average PT from Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $8.69.

A number of equities analysts recently commented on ALHC shares. Barclays started coverage on Alignment Healthcare in a report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price target for the company. Stifel Nicolaus cut their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. UBS Group cut their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Piper Sandler upgraded shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $6.00 to $8.00 in a research report on Wednesday, May 8th. Finally, Stephens raised their price objective on shares of Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $7.16 on Friday. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $9.20. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -8.52 and a beta of 1.23. The business has a 50-day moving average of $5.58 and a 200-day moving average of $6.56.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The business had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. During the same quarter in the previous year, the business posted ($0.20) EPS. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. As a group, sell-side analysts predict that Alignment Healthcare will post -0.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert Thomas Freeman sold 11,858 shares of Alignment Healthcare stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $4.89, for a total value of $57,985.62. Following the completion of the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at $4,392,334.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO John E. Kao bought 103,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $4.82 per share, with a total value of $496,460.00. Following the completion of the purchase, the chief executive officer now owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $4.89, for a total transaction of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at approximately $4,392,334.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,213 shares of company stock worth $460,587. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in Alignment Healthcare in the first quarter valued at $57,000. Principal Financial Group Inc. acquired a new position in Alignment Healthcare in the first quarter valued at $57,000. Barlow Wealth Partners Inc. acquired a new position in Alignment Healthcare in the fourth quarter valued at $100,000. Victory Capital Management Inc. lifted its holdings in Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after buying an additional 1,962 shares during the period. Finally, Teza Capital Management LLC acquired a new position in Alignment Healthcare in the third quarter valued at $109,000. Institutional investors own 86.19% of the company’s stock.

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.