Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $10.33

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $10.33.

A number of equities research analysts have issued reports on ALHC shares. Stifel Nicolaus boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. KeyCorp began coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, Barclays increased their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th.

Insider Transactions at Alignment Healthcare

In related news, insider Hakan Kardes sold 20,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $13.06, for a total transaction of $267,730.00. Following the completion of the sale, the insider now directly owns 355,444 shares of the company’s stock, valued at approximately $4,642,098.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alignment Healthcare news, insider Hakan Kardes sold 20,500 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $13.06, for a total value of $267,730.00. Following the completion of the transaction, the insider now directly owns 355,444 shares of the company’s stock, valued at $4,642,098.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Thomas Freeman sold 36,197 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.04, for a total value of $435,811.88. Following the sale, the chief financial officer now owns 123,429 shares of the company’s stock, valued at $1,486,085.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 378,087 shares of company stock valued at $4,280,214. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently made changes to their positions in the business. Algert Global LLC increased its stake in shares of Alignment Healthcare by 44.8% in the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock worth $956,000 after buying an additional 25,050 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Alignment Healthcare by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock worth $9,925,000 after acquiring an additional 13,865 shares in the last quarter. Intech Investment Management LLC acquired a new position in Alignment Healthcare during the 3rd quarter worth $315,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare in the 3rd quarter worth about $131,000. Finally, Royce & Associates LP acquired a new stake in shares of Alignment Healthcare in the 3rd quarter valued at about $3,782,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Trading Down 2.2 %

Shares of ALHC stock opened at $13.16 on Friday. The firm’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $9.20. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The firm has a market cap of $2.52 billion, a P/E ratio of -17.09 and a beta of 1.45.

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

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.