Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $9.11.

A number of brokerages recently issued reports on ALHC. Robert W. Baird began coverage on Alignment Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $10.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Stephens boosted their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and increased their price target for the stock from $7.75 to $11.00 in a research report on Thursday, May 30th. Finally, Piper Sandler upgraded Alignment Healthcare from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $8.00 in a research note on Wednesday, May 8th.

Alignment Healthcare Trading Up 0.7 %

NASDAQ ALHC opened at $8.87 on Monday. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $9.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. The stock’s 50 day moving average price is $7.63 and its two-hundred day moving average price is $6.64. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -10.56 and a beta of 1.43.

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). The company had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The business’s revenue was up 43.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) EPS. As a group, analysts anticipate that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $8.01, for a total value of $128,160.00. Following the transaction, the insider now directly owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the sale, the insider now directly owns 422,912 shares of the company’s stock, valued at approximately $3,387,525.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the completion of the sale, the insider now directly owns 1,956,097 shares in the company, valued at approximately $16,059,556.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,866 shares of company stock valued at $307,360. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after purchasing an additional 93,262 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Alignment Healthcare by 49.6% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after acquiring an additional 10,123 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Alignment Healthcare by 283.9% during the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after purchasing an additional 233,417 shares during the period. Finally, Blue Trust Inc. boosted its position in Alignment Healthcare by 47.4% during the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock valued at $1,272,000 after buying an additional 82,476 shares during the period. Hedge funds and other institutional investors 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.