Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Rating of “Moderate Buy” by Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $10.33.

A number of analysts recently issued reports on ALHC shares. TD Cowen boosted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus raised their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp initiated coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th.

Insider Buying and Selling

In other Alignment Healthcare news, insider Hakan Kardes sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $11.48, for a total value of $287,000.00. Following the completion of the sale, the insider now directly owns 380,444 shares in the company, valued at approximately $4,367,497.12. This trade represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dawn Christine Maroney sold 7,074 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total value of $63,807.48. Following the sale, the insider now owns 1,789,023 shares in the company, valued at $16,136,987.46. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 485,507 shares of company stock worth $5,818,335 in the last 90 days. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of Alignment Healthcare in the third quarter worth about $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare during the 3rd quarter valued at approximately $131,000. Virtu Financial LLC acquired a new stake in shares of Alignment Healthcare in the first quarter worth $57,000. Creative Planning raised its holdings in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after purchasing an additional 2,077 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

ALHC stock opened at $12.83 on Friday. The stock has a market cap of $2.46 billion, a PE ratio of -16.60 and a beta of 1.45. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $14.25. The company has a 50-day moving average price of $11.49 and a 200 day moving average price of $9.28. 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 during 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 for the quarter was up 51.6% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. Equities research analysts anticipate that Alignment Healthcare will post -0.69 earnings per share 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.