Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $10.33 Consensus PT from Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $10.33.

Several research firms have recently commented on ALHC. Robert W. Baird raised their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Piper Sandler reissued an “overweight” rating and set a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Stifel Nicolaus raised their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Barclays upped their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Dawn Christine Maroney sold 20,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the sale, the insider now directly owns 1,796,097 shares in the company, valued at $15,626,043.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 378,087 shares of company stock worth $4,280,214 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its position in shares of 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 buying an additional 2,072 shares during the last quarter. Principal Financial Group Inc. grew its stake in Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after acquiring an additional 3,334 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Alignment Healthcare during the 3rd quarter worth $95,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Alignment Healthcare by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after purchasing an additional 9,595 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Down 2.2 %

ALHC opened at $13.16 on Friday. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $14.25. The business has a 50 day moving average price of $11.36 and a two-hundred day moving average price of $9.20. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market cap of $2.52 billion, a PE ratio of -17.09 and a beta of 1.45.

Alignment Healthcare (NASDAQ:ALHC) last released 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). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. As a group, 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.