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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $11.44.

A number of research firms have commented on ALHC. UBS Group boosted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Thursday. KeyCorp initiated coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, Barclays boosted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th.

Alignment Healthcare Trading Up 1.2 %

Shares of NASDAQ ALHC opened at $11.70 on Monday. The business has a 50-day moving average price of $11.93 and a two-hundred day moving average price of $10.43. The firm has a market capitalization of $2.24 billion, a PE ratio of -15.19 and a beta of 1.42. Alignment Healthcare has a one year low of $4.46 and a one year high of $14.25. 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 quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same quarter last year, the firm posted ($0.19) earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Hyong Kim sold 62,574 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $12.20, for a total value of $763,402.80. Following the transaction, the insider now owns 470,496 shares of the company’s stock, valued at $5,740,051.20. This represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the transaction, the chief executive officer now owns 2,363,100 shares in the company, valued at approximately $27,530,115. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 631,504 shares of company stock valued at $7,639,287 in the last three months. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C boosted its holdings in Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after buying an additional 2,630,788 shares in the last quarter. Hood River Capital Management LLC increased its holdings in Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after purchasing an additional 185,854 shares during the last quarter. William Blair Investment Management LLC grew its position in 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 in the last quarter. Geode Capital Management LLC boosted its position in Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock valued at $28,875,000 after buying an additional 32,839 shares during the period. Finally, State Street Corp grew its stake in Alignment Healthcare by 0.9% during the 3rd quarter. State Street Corp now owns 2,252,287 shares of the company’s stock worth $26,622,000 after purchasing an additional 20,731 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.