Stifel Nicolaus Trims Alignment Healthcare (NASDAQ:ALHC) Target Price to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its target price cut by Stifel Nicolaus from $11.00 to $9.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the company. Barclays started coverage on Alignment Healthcare in a research note on Wednesday, March 6th. They set an underweight rating and a $4.50 price target on the stock. William Blair restated an outperform rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Piper Sandler restated a neutral rating and issued a $6.00 target price (down previously from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Raymond James upped their target price on Alignment Healthcare from $10.00 to $12.00 and gave the stock a strong-buy rating in a research note on Tuesday, January 9th. Finally, Stephens upped their target price on Alignment Healthcare from $10.00 to $10.50 and gave the stock an equal weight rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of Hold and an average price target of $9.18.

Alignment Healthcare Stock Down 0.4 %

Shares of ALHC stock opened at $5.16 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s fifty day moving average price is $5.25 and its 200 day moving average price is $6.61. The company has a market cap of $975.14 million, a price-to-earnings ratio of -6.53 and a beta of 1.30. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $465.39 million for the quarter, compared to analysts’ expectations of $444.56 million. Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.31) EPS. On average, research analysts expect that Alignment Healthcare will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Dawn Christine Maroney sold 15,861 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $80,098.05. Following the completion of the transaction, the insider now owns 1,999,500 shares of the company’s stock, valued at approximately $10,097,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 15,861 shares of the 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 $80,098.05. Following the completion of the transaction, the insider now owns 1,999,500 shares of the company’s stock, valued at $10,097,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $4.89, for a total value of $57,985.62. Following the transaction, the chief financial officer now directly owns 898,228 shares of the company’s stock, valued at approximately $4,392,334.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,213 shares of company stock valued at $460,587. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently made changes to their positions in the company. Barlow Wealth Partners Inc. acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $100,000. Teza Capital Management LLC acquired a new position in shares of Alignment Healthcare during the third quarter valued at approximately $109,000. Victory Capital Management Inc. raised its holdings in shares of Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after acquiring an additional 1,962 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the third quarter valued at approximately $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Alignment Healthcare by 75.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock valued at $183,000 after acquiring an additional 11,370 shares during the last quarter. Institutional investors and hedge funds 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.