KeyCorp Begins Coverage on Alignment Healthcare (NASDAQ:ALHC)

KeyCorp started coverage on shares of Alignment Healthcare (NASDAQ:ALHC) in a research note published on Friday, Marketbeat reports. The firm issued a sector weight rating on the stock.

A number of other brokerages have also recently issued reports on ALHC. TD Cowen increased their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a buy rating in a report on Tuesday, August 6th. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an outperform rating in a research note on Wednesday, August 14th. Barclays raised their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an underweight rating in a research note on Monday, August 5th. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a buy rating in a research note on Friday, July 26th. Finally, Piper Sandler reissued an overweight rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $9.83.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $11.45 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The company has a market cap of $2.19 billion, a P/E ratio of -13.96 and a beta of 1.47. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $12.36. The company has a 50-day moving average price of $10.03 and a 200 day moving average price of $8.15.

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

Insiders Place Their Bets

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 39,320 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $12.04, for a total value of $473,412.80. Following the completion of the sale, the chief financial officer now directly owns 194,609 shares of the company’s stock, valued at approximately $2,343,092.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare 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 transaction, the insider now owns 1,796,097 shares in the company, valued at $15,626,043.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Thomas Freeman sold 39,320 shares of Alignment Healthcare 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 completion of the transaction, the chief financial officer now owns 194,609 shares in the company, valued at approximately $2,343,092.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 400,261 shares of company stock valued at $4,272,130. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Alignment Healthcare in the 1st quarter valued at $918,000. Vanguard Group Inc. lifted its holdings in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Alignment Healthcare by 31.8% during the 2nd 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 acquiring an additional 2,630,788 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Alignment Healthcare by 27.5% during 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 acquiring an additional 82,559 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare during the 1st quarter valued at $57,000. Institutional investors and hedge funds 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.