Alignment Healthcare (NASDAQ:ALHC) Earns Sector Weight Rating from Analysts at KeyCorp

Investment analysts at KeyCorp initiated coverage on shares of Alignment Healthcare (NASDAQ:ALHC) in a note issued to investors on Friday, Briefing.com reports. The firm set a “sector weight” rating on the stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays boosted their price target on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Robert W. Baird lifted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, 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 report on Tuesday, August 6th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $11.31 on Friday. The stock has a market cap of $2.16 billion, a PE ratio of -13.79 and a beta of 1.47. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a 50-day moving average of $9.98 and a 200-day moving average of $8.06. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.15) earnings per share. On average, sell-side analysts anticipate that Alignment Healthcare will post -0.67 EPS for the current year.

Insider Activity

In related news, insider Christopher J. Joyce sold 15,034 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the sale, the insider now owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Christopher J. Joyce sold 15,034 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the sale, the insider now directly owns 406,912 shares in the company, valued at $3,682,553.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 23,163 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $231,630.00. Following the transaction, the insider now directly owns 1,892,934 shares in the company, valued at approximately $18,929,340. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,895 shares of company stock valued at $4,621,859 over the last quarter. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. Deerfield Management Company L.P. Series C grew its holdings in Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after buying an additional 2,630,788 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Alignment Healthcare by 49.6% during the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in Alignment Healthcare during the second quarter worth about $1,512,000. 86.19% of the stock is owned by 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.