UBS Group Issues Positive Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its price objective increased by UBS Group from $9.00 to $12.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on ALHC. Stifel Nicolaus upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Barclays upped their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. TD Cowen upped their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, KeyCorp started coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Alignment Healthcare Trading Up 4.4 %

NASDAQ:ALHC opened at $12.95 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.61. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -16.82 and a beta of 1.47. Alignment Healthcare has a one year low of $4.46 and a one year high of $12.99. The business has a fifty day moving average price of $10.82 and a 200-day moving average price of $8.79.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. Sell-side analysts forecast that Alignment Healthcare will post -0.68 EPS for the current year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the transaction, the insider now owns 1,789,023 shares of the company’s stock, valued at $16,136,987.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Hakan Kardes sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $11.48, for a total value of $287,000.00. Following the completion of the transaction, the insider now owns 380,444 shares of the company’s stock, valued at approximately $4,367,497.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the transaction, the insider now directly owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,287 shares of company stock valued at $3,964,670 in the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALHC. Jacobs Levy Equity Management Inc. purchased a new stake in Alignment Healthcare in the 1st quarter worth about $918,000. Vanguard Group Inc. raised its position in Alignment Healthcare by 1.0% in 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 during the period. Deerfield Management Company L.P. Series C raised its position in Alignment Healthcare by 31.8% in the 2nd 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 period. Bank of New York Mellon Corp raised its position in Alignment Healthcare by 27.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after purchasing an additional 82,559 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Alignment Healthcare in the 1st quarter worth about $57,000. Institutional investors 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.