Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $9.83 Average Price Target from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $9.83.

Several equities analysts have recently commented on the company. Robert W. Baird boosted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Stifel Nicolaus boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Finally, Barclays boosted their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th.

Alignment Healthcare Stock Down 4.8 %

Shares of NASDAQ:ALHC opened at $10.88 on Wednesday. The stock has a fifty day simple moving average of $10.28 and a two-hundred day simple moving average of $8.33. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -12.95 and a beta of 1.47. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $12.36. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. During the same quarter last year, the company earned ($0.15) EPS. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, research analysts anticipate that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now owns 2,543,100 shares in the company, valued at $28,813,323. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total value of $174,000.00. Following the sale, the insider now owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,940 shares of company stock valued at $3,487,014 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its stake in Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after purchasing an additional 2,077 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after acquiring an additional 3,334 shares during the period. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare during the third quarter worth $95,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Alignment Healthcare by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after buying an additional 9,595 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.