Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Recommendation of “Moderate Buy” from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.83.

Several equities analysts recently weighed in on ALHC shares. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. Barclays increased their target price on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Robert W. Baird boosted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th.

Alignment Healthcare Stock Up 0.4 %

Alignment Healthcare stock opened at $11.43 on Friday. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $12.36. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -13.61 and a beta of 1.43. The business’s 50-day moving average price is $9.47 and its 200 day moving average price is $7.47. The company has a quick ratio of 1.61, a current 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The firm had revenue of $681.29 million during the quarter, compared to analysts’ expectations of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. As a group, sell-side analysts anticipate that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,034 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the sale, the insider now directly owns 406,912 shares of the company’s stock, valued at approximately $3,682,553.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christopher J. Joyce sold 15,034 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the sale, the insider now owns 406,912 shares of the company’s stock, valued at approximately $3,682,553.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dawn Christine Maroney sold 23,163 shares of Alignment Healthcare stock in a transaction that occurred on 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 directly owns 1,892,934 shares in the company, valued at approximately $18,929,340. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 268,639 shares of company stock valued at $2,676,719. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. Series C lifted its position in Alignment Healthcare by 31.8% in the second 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 93,262 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after acquiring an additional 185,854 shares during the last quarter. William Blair Investment Management LLC boosted its position 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 worth $24,279,000 after purchasing an additional 1,507,759 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in 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. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.