Stifel Nicolaus Issues Positive Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by analysts at Stifel Nicolaus from $14.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 18.52% from the stock’s previous close.

Several other equities analysts also recently commented on ALHC. KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. UBS Group boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays increased their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Finally, Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Thursday, January 2nd. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Trading Up 13.6 %

Shares of NASDAQ ALHC opened at $13.50 on Tuesday. The stock has a fifty day simple moving average of $11.91 and a 200-day simple moving average of $10.62. Alignment Healthcare has a twelve month low of $4.46 and a twelve 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. The stock has a market capitalization of $2.59 billion, a PE ratio of -17.53 and a beta of 1.45.

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

Insider Activity at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,273,100 shares of the company’s stock, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 4,483 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the sale, the chief financial officer now directly owns 159,626 shares of the company’s stock, valued at approximately $1,917,108.26. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 509,224 shares of company stock valued at $6,399,990 over the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC increased its position in Alignment Healthcare by 85.3% in the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after acquiring an additional 55,771 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Alignment Healthcare by 132.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares during the period. Barclays PLC raised its stake in shares of Alignment Healthcare by 144.1% during the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C raised its stake in shares of Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.