Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.83.

A number of research analysts have recently commented on ALHC shares. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Cowen raised their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Robert W. Baird boosted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Barclays raised their price objective on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Finally, Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and upped their target price for the stock from $7.75 to $11.00 in a report on Thursday, May 30th.

Insider Buying and Selling

In related news, insider Christopher J. Joyce sold 15,034 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $9.05, for a total transaction of $136,057.70. Following the transaction, the insider now directly owns 406,912 shares in the company, valued at approximately $3,682,553.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Joseph S. Konowiecki sold 22,400 shares of Alignment Healthcare stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.06, for a total transaction of $202,944.00. Following the completion of the sale, the chairman now directly owns 1,233,221 shares in the company, valued at $11,172,982.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher J. Joyce sold 15,034 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the transaction, the insider now directly owns 406,912 shares in the company, valued at $3,682,553.60. The disclosure for this sale can be found here. Insiders sold a total of 268,639 shares of company stock worth $2,676,719 in the last 90 days. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALHC. Virtu Financial LLC purchased a new stake in Alignment Healthcare in the first quarter valued at approximately $57,000. Principal Financial Group Inc. acquired a new stake in Alignment Healthcare during the 1st quarter valued at approximately $57,000. Victory Capital Management Inc. boosted its holdings in shares of Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after acquiring an additional 1,962 shares during the last quarter. Aigen Investment Management LP increased its stake in shares of Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after acquiring an additional 3,092 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after purchasing an additional 19,129 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $11.43 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -13.61 and a beta of 1.43. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36. The firm’s 50-day moving average is $9.47 and its 200 day moving average is $7.47.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results 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 return on equity of 101.10% and a negative net margin of 6.85%. The firm had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. Research analysts predict that Alignment Healthcare will post -0.67 EPS for the current 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.