Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $9.83 Average PT from Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.83.

ALHC has been the subject of a number of research reports. Robert W. Baird increased their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Barclays upped their price objective on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Finally, TD Cowen raised their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th.

Insider Transactions at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 14,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $174,000.00. Following the completion of the sale, the chief financial officer now owns 264,429 shares in the company, valued at approximately $3,173,148. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Thomas Freeman sold 14,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $174,000.00. Following the completion of the transaction, the chief financial officer now owns 264,429 shares in the company, valued at approximately $3,173,148. The disclosure for this sale can be found here. Insiders have sold a total of 268,639 shares of company stock valued at $2,676,719 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Alignment Healthcare in the 1st quarter worth approximately $57,000. Principal Financial Group Inc. purchased a new stake in shares of Alignment Healthcare during the first quarter worth $57,000. Victory Capital Management Inc. boosted its position in 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 purchasing an additional 1,962 shares during the last quarter. Aigen Investment Management LP grew its stake in Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after purchasing an additional 3,092 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $11.47 on Friday. The stock has a market cap of $2.19 billion, a P/E ratio of -13.65 and a beta of 1.43. The firm’s 50-day simple moving average is $9.61 and its 200 day simple moving average is $7.67. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $12.36. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. Alignment Healthcare’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) EPS. Equities analysts expect that Alignment Healthcare will post -0.67 EPS for the current year.

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.