Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Rating of “Moderate Buy” by Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $11.44.

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. KeyCorp started coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday.

Alignment Healthcare Stock Up 1.2 %

Shares of ALHC opened at $11.70 on Monday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -15.19 and a beta of 1.42. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $14.25. The stock has a fifty day moving average of $11.93 and a 200-day moving average of $10.43. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

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

Insider Buying and Selling

In other news, insider Hyong Kim sold 22,460 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $11.03, for a total value of $247,733.80. Following the completion of the transaction, the insider now owns 533,070 shares in the company, valued at approximately $5,879,762.10. This represents a 4.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the completion of the transaction, the insider now directly owns 1,726,097 shares in the company, valued at $18,590,064.69. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 631,504 shares of company stock valued at $7,639,287. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the third quarter valued at about $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alignment Healthcare during the 3rd quarter worth approximately $131,000. Creative Planning grew its stake in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after acquiring an additional 2,077 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare in the 3rd quarter worth approximately $315,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.