Alignment Healthcare (NASDAQ:ALHC) Upgraded at UBS Group

Alignment Healthcare (NASDAQ:ALHC) was upgraded by investment analysts at UBS Group to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Other analysts have also issued reports about the stock. TD Cowen reduced their price objective on shares of Alignment Healthcare from $21.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Scotiabank set a $9.00 target price on Alignment Healthcare in a research report on Friday. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings cut Alignment Healthcare from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.82.

Alignment Healthcare Trading Up 2.6%

Shares of ALHC opened at $8.30 on Monday. Alignment Healthcare has a twelve month low of $6.01 and a twelve month high of $25.12. The company has a market cap of $1.72 billion, a P/E ratio of 43.69 and a beta of 1.14. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22. The company’s fifty day simple moving average is $11.26 and its 200-day simple moving average is $16.50.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business earned $0.07 EPS. The business’s revenue was up 31.6% on a year-over-year basis. As a group, analysts expect that Alignment Healthcare will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, President Dawn Maroney sold 122,707 shares of Alignment Healthcare stock in a transaction on Friday, September 11th. The stock was sold at an average price of $12.68, for a total transaction of $1,555,924.76. Following the completion of the sale, the president directly owned 794,606 shares in the company, valued at approximately $10,075,604.08. This trade represents a 13.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hyong Kim sold 32,479 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total transaction of $269,575.70. Following the sale, the insider directly owned 299,271 shares of the company’s stock, valued at $2,483,949.30. This represents a 9.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,061,967 shares of company stock valued at $13,642,490 in the last three months. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in Alignment Healthcare by 463.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares in the last quarter. Nykredit A S purchased a new stake in shares of Alignment Healthcare in the 2nd quarter worth $36,000. Signature Equity Partners LLC bought a new position in shares of Alignment Healthcare during the 1st quarter worth $46,000. GAMMA Investing LLC grew its position in shares of Alignment Healthcare by 46.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock worth $80,000 after buying an additional 1,070 shares in the last quarter. Finally, Transamerica Financial Advisors LLC bought a new position in shares of Alignment Healthcare during the 2nd quarter worth $149,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.