Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $16.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by analysts at Stifel Nicolaus from $14.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 15.11% from the company’s current price.

A number of other research firms have also recently commented on ALHC. Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Thursday, January 2nd. KeyCorp started coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Stock Up 2.9 %

NASDAQ ALHC opened at $13.90 on Tuesday. The business’s 50-day moving average is $11.91 and its 200 day moving average is $10.66. The stock has a market capitalization of $2.66 billion, a PE ratio of -18.05 and a beta of 1.45. 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.

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, meeting the consensus estimate of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) earnings per share. Sell-side analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, insider Hakan Kardes sold 20,500 shares of the business’s stock in a transaction on 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 owns 355,444 shares in the company, valued at $4,642,098.64. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert Thomas Freeman sold 4,483 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total transaction of $53,840.83. Following the sale, the chief financial officer now owns 159,626 shares in the company, valued at $1,917,108.26. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 509,224 shares of company stock valued at $6,399,990. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Creative Planning grew its position in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Alignment Healthcare during the 3rd quarter worth $95,000. The Manufacturers Life Insurance Company raised its position in shares of Alignment Healthcare by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after purchasing an additional 9,595 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare during the third quarter valued at $131,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alignment Healthcare by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock worth $9,925,000 after buying an additional 13,865 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.