Alignment Healthcare (NASDAQ:ALHC) Coverage Initiated by Analysts at KeyCorp

KeyCorp started coverage on shares of Alignment Healthcare (NASDAQ:ALHC) in a report published on Friday morning, MarketBeat.com reports. The firm issued a sector weight rating on the stock.

A number of other analysts also recently weighed in on ALHC. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a buy rating in a report on Friday, July 26th. Piper Sandler reissued an overweight rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. TD Cowen upped their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. Barclays lifted their target price on Alignment Healthcare from $4.50 to $7.00 and gave the company an underweight rating in a research report on Monday, August 5th. Finally, Robert W. Baird increased their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an outperform rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alignment Healthcare presently has a consensus rating of Moderate Buy and an average price target of $9.83.

Alignment Healthcare Trading Up 1.2 %

ALHC opened at $11.45 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $2.19 billion, a P/E ratio of -13.96 and a beta of 1.47. The firm’s fifty day simple moving average is $10.03 and its 200 day simple moving average is $8.11. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36.

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

Insider Buying and Selling at Alignment Healthcare

In other news, Chairman Joseph S. Konowiecki sold 22,400 shares of Alignment Healthcare stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.06, for a total transaction of $202,944.00. Following the transaction, the chairman now owns 1,233,221 shares in the company, valued at approximately $11,172,982.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,034 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.05, for a total transaction of $136,057.70. Following the completion of the transaction, the insider now owns 406,912 shares in the company, valued at approximately $3,682,553.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph S. Konowiecki sold 22,400 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.06, for a total transaction of $202,944.00. Following the completion of the sale, the chairman now directly owns 1,233,221 shares in the company, valued at approximately $11,172,982.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,895 shares of company stock worth $4,621,859. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C grew its holdings in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the period. William Blair Investment Management LLC grew its stake in Alignment Healthcare by 94.4% during the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after purchasing an additional 1,507,759 shares during the period. Hood River Capital Management LLC grew its stake in Alignment Healthcare by 49.6% during the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after purchasing an additional 968,637 shares during the period. Renaissance Technologies LLC increased its holdings in Alignment Healthcare by 16.8% in the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in Alignment Healthcare in the second quarter valued at approximately $1,512,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.