Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $9.83 Consensus Price Target from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $9.83.

Several research analysts have recently weighed in on the company. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays boosted their price objective 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. Robert W. Baird raised their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler reissued 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.

Insider Transactions at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 15,034 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were 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 approximately $3,682,553.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the sale, the insider now owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher J. Joyce sold 15,034 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total transaction of $136,057.70. Following the completion of the transaction, the insider now owns 406,912 shares in the company, valued at $3,682,553.60. The disclosure for this sale can be found here. Insiders have sold 268,639 shares of company stock worth $2,676,719 in the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after buying an additional 10,123 shares during the last quarter. Aigen Investment Management LP boosted its stake in Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after buying an additional 3,092 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after acquiring an additional 3,334 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Alignment Healthcare in the first quarter worth about $57,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

Shares of ALHC opened at $11.26 on Friday. The stock has a 50 day simple moving average of $9.56 and a 200 day simple moving average of $7.60. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.36. 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 market capitalization of $2.15 billion, a PE ratio of -13.40 and a beta of 1.43.

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

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.