Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.95.

Several research analysts have commented on ALHC shares. Robert W. Baird began coverage on shares of Alignment Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $10.00 price objective for the company. TD Cowen lifted their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday. Stephens boosted their target price on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their price target for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total transaction of $164,200.00. Following the sale, the insider now owns 1,956,097 shares of the company’s stock, valued at $16,059,556.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Robert Thomas Freeman sold 38,858 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $388,968.58. Following the transaction, the chief financial officer now owns 414,429 shares in the company, valued at approximately $4,148,434.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the completion of the sale, the insider now owns 1,956,097 shares of the company’s stock, valued at $16,059,556.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,554 shares of company stock worth $2,154,152. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Alignment Healthcare by 1.0% in 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 during the period. Hood River Capital Management LLC lifted its holdings in shares of Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after purchasing an additional 968,637 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Alignment Healthcare by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after purchasing an additional 10,123 shares during the period. Bank of New York Mellon Corp increased its stake in Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Alignment Healthcare by 283.9% during the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after buying an additional 233,417 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 3.9 %

Shares of ALHC stock opened at $9.17 on Friday. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $10.16. The company has a market capitalization of $1.75 billion, a PE ratio of -10.92 and a beta of 1.43. The firm has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $6.78. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.23.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 95.55%. The business had revenue of $681.29 million during the quarter, compared to analysts’ expectations of $637.66 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. Alignment Healthcare’s revenue was up 47.3% compared to the same quarter last year. As a group, analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current year.

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.