Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $7.00 at Barclays

Alignment Healthcare (NASDAQ:ALHC) had its target price raised by Barclays from $4.50 to $7.00 in a report released on Monday morning, Benzinga reports. They currently have an underweight rating on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler raised shares of Alignment Healthcare from a neutral rating to an overweight rating and lifted their target price for the stock from $6.00 to $8.00 in a research note on Wednesday, May 8th. Bank of America raised shares of Alignment Healthcare from a neutral rating to a buy rating and boosted their price objective for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. Robert W. Baird assumed coverage on shares of Alignment Healthcare in a research report on Thursday, May 30th. They set an outperform rating and a $10.00 price objective on the stock. Stephens boosted their price objective on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. Finally, Baird R W raised shares of Alignment Healthcare to a strong-buy rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $9.95.

Alignment Healthcare Trading Down 3.8 %

Shares of ALHC opened at $8.42 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $10.16. The firm has a 50 day moving average price of $8.42 and a 200-day moving average price of $6.80. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -10.02 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 95.55%. The company had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, equities research analysts forecast that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Robert Thomas Freeman sold 38,858 shares of Alignment Healthcare stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $388,968.58. Following the sale, the chief financial officer now owns 414,429 shares in the company, valued at $4,148,434.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total transaction of $164,200.00. Following the sale, the insider now owns 1,956,097 shares in the company, valued at $16,059,556.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 38,858 shares of Alignment Healthcare stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $388,968.58. Following the sale, the chief financial officer now owns 414,429 shares in the company, valued at approximately $4,148,434.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,554 shares of company stock valued at $2,154,152. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. purchased a new position in shares of Alignment Healthcare in the first quarter valued at $918,000. Jump Financial LLC purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at $575,000. Barlow Wealth Partners Inc. purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at $100,000. Assenagon Asset Management S.A. grew its holdings in shares of Alignment Healthcare by 283.9% in the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after purchasing an additional 233,417 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Alignment Healthcare by 18.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after purchasing an additional 4,862 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.