Alignment Healthcare’s (ALHC) “Overweight” Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of Alignment Healthcare (NASDAQ:ALHC) in a research note issued to investors on Thursday,Benzinga reports. Stephens currently has a $17.00 target price on the stock.

Several other equities analysts also recently issued reports on the stock. Barclays upped their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. UBS Group boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Trading Up 2.8 %

Shares of ALHC opened at $11.56 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -15.01 and a beta of 1.42. The firm has a 50 day simple moving average of $11.90 and a 200-day simple moving average of $10.35.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting 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 return on equity of 108.69% and a negative net margin of 5.84%. The business’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) earnings per share. Equities analysts forecast that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insider Activity at Alignment Healthcare

In related news, Director Joseph S. Konowiecki sold 6,920 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the completion of the transaction, the director now owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 4,483 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $12.01, for a total value of $53,840.83. Following the sale, the chief financial officer now owns 159,626 shares of the company’s stock, valued at approximately $1,917,108.26. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 631,504 shares of company stock worth $7,639,287. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALHC. Bank of New York Mellon Corp grew its stake in Alignment Healthcare by 27.5% in the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after purchasing an additional 82,559 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Alignment Healthcare by 18.1% during the 2nd 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. Rhumbline Advisers grew its position in shares of Alignment Healthcare by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock worth $1,074,000 after acquiring an additional 16,083 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Alignment Healthcare by 94.4% in the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after acquiring an additional 1,507,759 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after acquiring an additional 225,000 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.