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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.88.

ALHC has been the topic of a number of research analyst reports. KeyCorp initiated coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Barclays boosted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th.

Insider Buying and Selling

In related news, insider Hakan Kardes sold 10,500 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $14.99, for a total value of $157,395.00. Following the completion of the sale, the insider now directly owns 309,944 shares of the company’s stock, valued at $4,646,060.56. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total transaction of $96,273.00. Following the completion of the sale, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. This trade represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 549,724 shares of company stock worth $6,965,685. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC lifted its position in Alignment Healthcare by 85.3% in the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after acquiring an additional 55,771 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after buying an additional 73,402 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after buying an additional 180,522 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after buying an additional 205,705 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after buying an additional 114,191 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Down 0.3 %

ALHC stock opened at $14.57 on Friday. The firm has a market cap of $2.79 billion, a PE ratio of -18.92 and a beta of 1.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm’s 50 day moving average price is $12.06 and its 200-day moving average price is $10.94. Alignment Healthcare has a one year low of $4.46 and a one year high of $15.03.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) earnings per share. On average, equities research analysts anticipate that Alignment Healthcare will post -0.69 EPS 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.