Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $11.44.

Several brokerages have recently issued reports on ALHC. Barclays lifted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Thursday. Finally, KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock.

Insider Activity

In related news, insider Hyong Kim sold 22,460 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $11.03, for a total transaction of $247,733.80. Following the transaction, the insider now directly owns 533,070 shares of the company’s stock, valued at approximately $5,879,762.10. The trade was a 4.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the transaction, the chief executive officer now owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 631,504 shares of company stock worth $7,639,287. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare during the 3rd quarter worth about $95,000. Principal Financial Group Inc. increased its holdings in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after buying an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alignment Healthcare during the third quarter valued at approximately $131,000. Creative Planning lifted its stake in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after acquiring an additional 19,129 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

ALHC opened at $11.70 on Monday. The business has a 50 day moving average price of $11.93 and a two-hundred day moving average price of $10.39. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -15.19 and a beta of 1.42. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. Research analysts predict that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

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.