Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $11.44 Consensus Price Target from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $11.44.

ALHC has been the subject of a number of recent analyst reports. KeyCorp began coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Barclays lifted their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $13.00 to $17.00 in a report on Tuesday, December 3rd. Finally, UBS Group lifted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $11.25 on Monday. The company’s 50-day moving average is $11.89 and its two-hundred day moving average is $10.35. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -14.61 and a beta of 1.42.

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

Insider Buying and Selling at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the sale, the insider now directly owns 1,726,097 shares in the company, valued at approximately $18,590,064.69. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hyong Kim sold 22,460 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total transaction of $247,733.80. Following the completion of the transaction, the insider now owns 533,070 shares of the company’s stock, valued at $5,879,762.10. This represents a 4.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 631,504 shares of company stock valued at $7,639,287 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

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

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.