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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $11.44.

ALHC has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday. Finally, Barclays increased their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th.

Insider Activity

In other Alignment Healthcare news, insider Hyong Kim sold 22,460 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total value of $247,733.80. Following the sale, the insider now directly owns 533,070 shares in the company, valued at approximately $5,879,762.10. This trade represents a 4.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the transaction, the chief executive officer now owns 2,363,100 shares of the company’s stock, valued at $27,530,115. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 631,504 shares of company stock valued at $7,639,287. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $95,000. Principal Financial Group Inc. raised its stake in Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after acquiring an additional 2,077 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alignment Healthcare during the 3rd quarter worth $131,000. Creative Planning grew its stake in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after purchasing an additional 19,129 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Up 1.2 %

Shares of NASDAQ ALHC opened at $11.70 on Monday. The stock has a fifty day moving average price of $11.93 and a 200 day moving average price of $10.39. The company has a market cap of $2.24 billion, a P/E ratio of -15.19 and a beta of 1.42. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $14.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. During the same period last year, the business posted ($0.19) EPS. The company’s revenue was up 51.6% on a year-over-year basis. Research analysts anticipate that Alignment Healthcare will post -0.69 EPS for the current fiscal 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.