Alignment Healthcare’s (ALHC) Overweight Rating Reiterated at Stephens

Alignment Healthcare (NASDAQ:ALHC)‘s stock had its “overweight” rating reiterated by Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $17.00 target price on the stock. Stephens’ price target would suggest a potential upside of 51.11% from the stock’s current price.

Other research analysts have also issued reports about the stock. UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. KeyCorp began coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC opened at $11.25 on Thursday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm’s 50-day moving average price is $11.89 and its two-hundred day moving average price is $10.35. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $14.25. The stock has a market capitalization of $2.16 billion, a P/E ratio of -14.61 and a beta of 1.42.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. As a group, sell-side analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Robert Thomas Freeman sold 39,320 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $12.04, for a total transaction of $473,412.80. Following the transaction, the chief financial officer now directly owns 194,609 shares in the company, valued at $2,343,092.36. The trade was a 16.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,019,700.00. Following the sale, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 631,504 shares of company stock worth $7,639,287. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALHC. Bank of New York Mellon Corp grew its stake in shares of 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 valued at $2,991,000 after buying an additional 82,559 shares in the last quarter. Principal Financial Group Inc. grew its position in Alignment Healthcare by 18.1% in the second 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. Rhumbline Advisers increased its stake in shares of Alignment Healthcare by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock worth $1,074,000 after purchasing an additional 16,083 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Alignment Healthcare by 16.8% in 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 last quarter. Hedge funds and other 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.