Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.83.

Several research firms have issued reports on ALHC. Barclays upped their price target on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen upped their price target 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. Robert W. Baird upped their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock.

Insider Buying and Selling

In related news, insider Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the transaction, the insider now directly owns 1,726,097 shares of the company’s stock, valued at approximately $18,590,064.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the transaction, the insider now directly owns 1,726,097 shares of the company’s stock, valued at approximately $18,590,064.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 39,320 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $12.04, for a total transaction of $473,412.80. Following the transaction, the chief financial officer now directly owns 194,609 shares in the company, valued at approximately $2,343,092.36. 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 314,940 shares of company stock valued at $3,487,014. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Alignment Healthcare in the 3rd quarter valued at about $95,000. Virtu Financial LLC bought a new position in Alignment Healthcare in the 1st quarter valued at about $57,000. Principal Financial Group Inc. bought a new position in Alignment Healthcare in the 1st quarter valued at about $57,000. Creative Planning increased its holdings in Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Alignment Healthcare by 110.0% in the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after buying an additional 19,129 shares during the period. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $10.76 on Wednesday. The company’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $8.42. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The firm has a market cap of $2.06 billion, a PE ratio of -12.81 and a beta of 1.47. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities research analysts expect that Alignment Healthcare will post -0.67 EPS for the current fiscal 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.