Stephens Increases Alignment Healthcare (NASDAQ:ALHC) Price Target to $7.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective raised by Stephens from $6.00 to $7.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ target price points to a potential upside of 5.58% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. UBS Group lowered their target price on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Barclays began coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 target price on the stock. Piper Sandler reiterated a “neutral” rating and set a $6.00 price target (down from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Stifel Nicolaus reduced their price target on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Finally, Raymond James increased their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare currently has a consensus rating of “Hold” and a consensus target price of $8.83.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded up $1.37 on Friday, reaching $6.63. The stock had a trading volume of 3,023,068 shares, compared to its average volume of 898,686. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $9.20. The company has a market cap of $1.26 billion, a P/E ratio of -8.39 and a beta of 1.23. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02. The business’s 50 day moving average is $5.11 and its two-hundred day moving average is $6.55.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share. As a group, research analysts anticipate that Alignment Healthcare will post -0.6 EPS for the current year.

Insiders Place Their Bets

In other news, insider Dawn Christine Maroney sold 15,861 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $80,098.05. Following the completion of the transaction, the insider now directly owns 1,999,500 shares in the company, valued at approximately $10,097,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Dawn Christine Maroney sold 15,861 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $80,098.05. Following the completion of the transaction, the insider now directly owns 1,999,500 shares in the company, valued at approximately $10,097,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John E. Kao bought 103,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $4.82 per share, with a total value of $496,460.00. Following the completion of the transaction, the chief executive officer now directly owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. Insiders sold 90,213 shares of company stock worth $460,587 in the last three months. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. bought a new stake in Alignment Healthcare in the first quarter worth $57,000. Barlow Wealth Partners Inc. purchased a new stake in Alignment Healthcare in the fourth quarter worth $100,000. Victory Capital Management Inc. increased its stake in Alignment Healthcare by 17.9% in the fourth 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 during the period. Teza Capital Management LLC purchased a new stake in Alignment Healthcare in the third quarter worth $109,000. Finally, Aigen Investment Management LP purchased a new stake in Alignment Healthcare in the third quarter worth $116,000. 86.19% of the stock is currently owned by institutional investors.

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.