Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $11.88 Consensus Target Price from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $11.88.

ALHC has been the topic of a number of recent research reports. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 2nd. KeyCorp initiated coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. UBS Group increased their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th.

Insider Transactions at Alignment Healthcare

In other news, insider Hakan Kardes sold 20,500 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $13.06, for a total value of $267,730.00. Following the transaction, the insider now owns 355,444 shares of the company’s stock, valued at $4,642,098.64. This represents a 5.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total transaction of $408,300.00. Following the transaction, the president now directly owns 1,606,097 shares in the company, valued at approximately $21,858,980.17. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 519,044 shares of company stock valued at $6,634,832 in the last quarter. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after purchasing an additional 2,937 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Alignment Healthcare by 1,672.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock valued at $7,591,000 after purchasing an additional 619,592 shares during the last quarter. R Squared Ltd bought a new position in shares of Alignment Healthcare during the 4th quarter valued at $55,000. SG Americas Securities LLC grew its holdings in Alignment Healthcare by 11.7% in the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock worth $554,000 after acquiring an additional 5,163 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at about $121,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $15.20 on Friday. The stock has a market capitalization of $2.91 billion, a P/E ratio of -19.74 and a beta of 1.45. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm’s 50 day moving average is $12.43 and its 200 day moving average is $11.19. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $15.82.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. Alignment Healthcare’s revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) EPS. On average, sell-side analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current year.

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.