Alignment Healthcare’s (ALHC) “Overweight” Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Alignment Healthcare (NASDAQ:ALHC) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $17.00 price target on the stock.

A number of other equities research analysts have also recently commented on ALHC. Barclays increased their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. KeyCorp started coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $11.70 on Thursday. The stock has a fifty day moving average price of $11.93 and a 200 day moving average price of $10.41. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market cap of $2.24 billion, a PE ratio of -15.19 and a beta of 1.42. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period last year, the firm posted ($0.19) EPS. Sell-side analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the sale, the chief executive officer now owns 2,543,100 shares in the company, valued at $28,813,323. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph S. Konowiecki sold 6,920 shares of Alignment Healthcare stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.73, for a total transaction of $95,011.60. Following the completion of the transaction, the director now owns 1,134,888 shares in the company, valued at approximately $15,582,012.24. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 631,504 shares of company stock worth $7,639,287 in the last three months. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC grew its stake in shares of Alignment Healthcare by 85.3% in the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after buying an additional 55,771 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares during the last quarter. Barclays PLC raised its holdings in shares of Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in Alignment Healthcare by 31.8% in 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 purchasing an additional 2,630,788 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after buying an additional 180,522 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.