Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $9.83.

Several equities analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Barclays raised their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. TD Cowen boosted their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th.

Alignment Healthcare Trading Down 4.8 %

Shares of ALHC stock opened at $10.88 on Wednesday. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $12.36. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -12.95 and a beta of 1.47. The firm has a 50-day moving average price of $10.28 and a 200 day moving average price of $8.38. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. Alignment Healthcare’s revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. Research analysts forecast that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total value of $323,100.00. Following the completion of the sale, the insider now owns 1,726,097 shares of the company’s stock, valued at $18,590,064.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Robert Thomas Freeman sold 8,561 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the sale, the chief financial officer now directly owns 399,429 shares of the company’s stock, valued at approximately $3,998,284.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total transaction of $323,100.00. Following the sale, the insider now owns 1,726,097 shares in the company, valued at approximately $18,590,064.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,940 shares of company stock valued at $3,487,014. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in ALHC. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Alignment Healthcare during the first quarter valued at $918,000. Vanguard Group Inc. raised its position in Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its stake in Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alignment Healthcare by 27.5% in the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after acquiring an additional 82,559 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare during the 1st quarter worth $57,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

About Alignment Healthcare

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.