Alignment Healthcare (NASDAQ:ALHC) Upgraded at Stephens

Alignment Healthcare (NASDAQ:ALHC) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $17.00 price target on the stock, up from their previous price target of $13.00. Stephens’ price objective points to a potential upside of 32.40% from the company’s current price.

A number of other equities analysts also recently issued reports on ALHC. TD Cowen raised their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research note 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. Barclays raised their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. 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 to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.44.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $12.84 on Tuesday. The firm has a market cap of $2.46 billion, a P/E ratio of -16.68 and a beta of 1.42. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $14.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a 50 day moving average of $11.81 and a 200 day moving average of $9.79.

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

Insider Buying and Selling at Alignment Healthcare

In related news, insider Hakan Kardes sold 35,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the sale, the insider now owns 320,444 shares in the company, valued at $4,101,683.20. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the transaction, the chief executive officer now owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 543,433 shares of company stock worth $6,543,028 in the last quarter. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare during the third quarter worth $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare in the third quarter worth about $131,000. Virtu Financial LLC acquired a new position in Alignment Healthcare in the 1st quarter worth about $57,000. Creative Planning raised its stake in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Alignment Healthcare by 18.1% in the 2nd 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 during the period. Hedge funds and other institutional investors 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.