Alignment Healthcare (NASDAQ:ALHC) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of Alignment Healthcare (NASDAQ:ALHC) from a neutral rating to an overweight rating in a research note released on Wednesday morning, MarketBeat Ratings reports. They currently have $8.00 price objective on the stock, up from their previous price objective of $6.00.

Several other analysts have also recently commented on ALHC. Raymond James boosted their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a strong-buy rating in a research note on Tuesday, January 9th. Barclays assumed coverage on Alignment Healthcare in a report on Wednesday, March 6th. They set an underweight rating and a $4.50 price objective on the stock. Stephens upped their price target on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Stifel Nicolaus dropped their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. Finally, UBS Group dropped their price target on Alignment Healthcare from $9.00 to $8.50 and set a neutral rating for the company in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of Moderate Buy and a consensus target price of $8.69.

Alignment Healthcare Stock Down 1.3 %

Shares of ALHC stock opened at $6.78 on Wednesday. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -8.07 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The company’s fifty day moving average price is $5.15 and its 200-day moving average price is $6.52. Alignment Healthcare has a one year low of $4.46 and a one year high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The business had revenue of $628.60 million for the quarter, compared to analysts’ expectations of $599.75 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue for the quarter was up 43.1% compared to the same quarter last year. Sell-side analysts expect that Alignment Healthcare will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert Thomas Freeman sold 28,522 shares of Alignment Healthcare stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the sale, the chief financial officer now owns 869,706 shares in the company, valued at approximately $4,392,015.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Dawn Christine Maroney sold 23,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the sale, the insider now owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 28,522 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the transaction, the chief financial officer now directly owns 869,706 shares of the company’s stock, valued at approximately $4,392,015.30. The disclosure for this sale can be found here. Insiders have sold a total of 90,213 shares of company stock worth $460,587 over the last quarter. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare during the first quarter worth $57,000. Barlow Wealth Partners Inc. acquired a new stake in Alignment Healthcare in the 4th quarter worth approximately $100,000. Victory Capital Management Inc. increased its stake in Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares in the last quarter. Teza Capital Management LLC acquired a new stake in shares of Alignment Healthcare during the third quarter worth $109,000. Finally, Aigen Investment Management LP acquired a new stake in Alignment Healthcare during the 3rd quarter worth about $116,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.