Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $8.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective lifted by Barclays from $7.00 to $8.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. TD Cowen upped their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.33.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $12.95 on Wednesday. The firm has a 50-day simple moving average of $10.82 and a 200-day simple moving average of $8.79. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -16.82 and a beta of 1.47. The company has a quick ratio of 1.61, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $12.99.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) earnings per share. On average, equities analysts predict that Alignment Healthcare will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the transaction, the insider now owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the sale, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the sale, the insider now directly owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,287 shares of company stock valued at $3,964,670 over the last 90 days. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in 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 acquiring an additional 180,522 shares in the last quarter. nVerses Capital LLC acquired a new stake in Alignment Healthcare in the third quarter valued at approximately $95,000. Creative Planning raised its holdings in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Alignment Healthcare in the third quarter valued at approximately $521,000. Finally, Mackenzie Financial Corp raised its holdings in Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after acquiring an additional 19,129 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.