Alignment Healthcare (NASDAQ:ALHC) Now Covered by Analysts at KeyCorp

KeyCorp started coverage on shares of Alignment Healthcare (NASDAQ:ALHC) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a sector weight rating on the stock.

Other analysts have also issued reports about the stock. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an outperform rating in a research note on Wednesday, August 14th. TD Cowen raised their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a buy rating in a research note on Tuesday, August 6th. Barclays raised their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an underweight rating in a research note on Monday, August 5th. Piper Sandler restated an overweight rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a buy rating in a research note on Friday, July 26th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $9.83.

Alignment Healthcare Trading Down 0.5 %

NASDAQ:ALHC opened at $11.39 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 company has a 50-day moving average price of $10.08 and a 200-day moving average price of $8.20. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -13.56 and a beta of 1.47. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly 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 during the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. Alignment Healthcare’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. Equities analysts predict that Alignment Healthcare will post -0.67 EPS for the current year.

Insider Activity

In other news, insider Dawn Christine Maroney sold 23,163 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total transaction of $231,630.00. Following the sale, the insider now owns 1,892,934 shares of the company’s stock, valued at $18,929,340. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Robert Thomas Freeman sold 22,100 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $221,000.00. Following the completion of the sale, the chief financial officer now directly owns 497,329 shares in the company, valued at $4,973,290. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 23,163 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $231,630.00. Following the completion of the transaction, the insider now directly owns 1,892,934 shares in the company, valued at approximately $18,929,340. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 400,261 shares of company stock valued at $4,272,130 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C lifted its position in shares of 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 valued at $85,250,000 after buying an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares in the last quarter. Hood River Capital Management LLC boosted its position in shares of Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after purchasing an additional 185,854 shares during the period. William Blair Investment Management LLC increased its stake in shares of Alignment Healthcare by 94.4% in 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 in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 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.