Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) PT at $24.56

Alignment Healthcare, Inc. (NASDAQ:ALHC) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $24.5556.

ALHC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. UBS Group boosted their price target on shares of Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Wall Street Zen downgraded Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Robert W. Baird set a $28.00 target price on Alignment Healthcare in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st.

Insider Activity

In related news, President Dawn Christine Maroney sold 228,152 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $21.33, for a total value of $4,866,482.16. Following the completion of the transaction, the president directly owned 1,057,015 shares in the company, valued at approximately $22,546,129.95. The trade was a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 180,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $18.19, for a total transaction of $3,274,200.00. Following the sale, the chief executive officer owned 2,472,641 shares in the company, valued at $44,977,339.79. This trade represents a 6.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,432,253 shares of company stock worth $27,993,403 in the last quarter. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALHC. Teacher Retirement System of Texas boosted its position in Alignment Healthcare by 85.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock worth $1,794,000 after acquiring an additional 47,472 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $3,499,000. Hudson Bay Capital Management LP bought a new stake in shares of Alignment Healthcare in the third quarter worth $4,581,000. Inspire Investing LLC acquired a new position in Alignment Healthcare during the third quarter worth $1,129,000. Finally, Cinctive Capital Management LP acquired a new position in Alignment Healthcare during the third quarter worth $3,814,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock opened at $16.62 on Wednesday. The business has a fifty day simple moving average of $19.98 and a 200 day simple moving average of $18.85. The stock has a market cap of $3.40 billion, a PE ratio of -1,660.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. Alignment Healthcare has a 12 month low of $11.63 and a 12 month high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The company’s quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Research analysts predict that Alignment Healthcare will post -0.69 EPS for the current year.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.