Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $8.69

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.69.

Several analysts have commented on the stock. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Piper Sandler upgraded Alignment Healthcare from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $6.00 to $8.00 in a report on Wednesday, May 8th. Stephens raised their target price on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. UBS Group lowered their price target on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus reduced their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the sale, the insider now directly owns 1,830,008 shares in the company, valued at $9,955,243.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the sale, the chief financial officer now owns 898,228 shares in the company, valued at approximately $4,392,334.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dawn Christine Maroney sold 23,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the transaction, the insider now directly owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,213 shares of company stock valued at $460,587. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Principal Financial Group Inc. bought a new position in Alignment Healthcare in the first quarter valued at $57,000. Virtu Financial LLC acquired a new position in shares of Alignment Healthcare during the 1st quarter worth about $57,000. Barlow Wealth Partners Inc. bought a new position in shares of Alignment Healthcare in the 4th quarter valued at about $100,000. Teza Capital Management LLC acquired a new stake in shares of Alignment Healthcare in the third quarter valued at about $109,000. Finally, Victory Capital Management Inc. raised its holdings in Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $7.06 on Friday. The business’s 50-day simple moving average is $5.54 and its 200 day simple moving average is $6.55. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -8.40 and a beta of 1.23. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The business had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period last year, the business posted ($0.20) EPS. As a group, research analysts anticipate that Alignment Healthcare will post -0.65 earnings per share for the current year.

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.