Alignment Healthcare (NASDAQ:ALHC) Rating Increased to Overweight at Stephens

Stephens upgraded shares of Alignment Healthcare (NASDAQ:ALHC) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $17.00 price objective on the stock, up from their prior price objective of $13.00.

ALHC has been the subject of several other research reports. TD Cowen raised their target price on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Trading Down 2.3 %

NASDAQ:ALHC opened at $12.55 on Tuesday. The stock has a fifty day simple moving average of $11.85 and a 200 day simple moving average of $9.83. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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

Insider Buying and Selling

In related news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was 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 of the company’s stock, valued at approximately $28,813,323. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hakan Kardes sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the insider now directly owns 320,444 shares in the company, valued at $4,101,683.20. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 540,483 shares of company stock worth $6,513,528. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. Series C increased its position in Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the period. Vanguard Group Inc. increased its holdings in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after purchasing an additional 93,262 shares during the period. Hood River Capital Management LLC raised its position in shares of Alignment Healthcare by 6.4% during the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after buying an additional 185,854 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after buying an additional 1,507,759 shares during the period. Finally, Geode Capital Management LLC grew its position in Alignment Healthcare by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock worth $28,875,000 after buying an additional 32,839 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

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.