Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.95.

A number of research firms have recently issued reports on ALHC. Robert W. Baird started coverage on shares of Alignment Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price target for the company. 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 report on Friday, July 26th. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their price target for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday.

Alignment Healthcare Trading Down 3.8 %

NASDAQ ALHC opened at $8.42 on Friday. The firm’s 50 day moving average price is $8.42 and its two-hundred day moving average price is $6.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $10.16. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -10.02 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative return on equity of 95.55% and a negative net margin of 6.85%. Alignment Healthcare’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Equities analysts anticipate that Alignment Healthcare will post -0.67 EPS for the current year.

Insider Activity at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 22,100 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total transaction of $221,000.00. Following the transaction, the chief financial officer now owns 497,329 shares of the company’s stock, valued at approximately $4,973,290. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Robert Thomas Freeman sold 22,100 shares of Alignment Healthcare stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $221,000.00. Following the transaction, the chief financial officer now directly owns 497,329 shares in the company, valued at $4,973,290. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph S. Konowiecki sold 22,400 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.06, for a total value of $202,944.00. Following the completion of the sale, the chairman now directly owns 1,233,221 shares in the company, valued at approximately $11,172,982.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,554 shares of company stock valued at $2,154,152. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Alignment Healthcare by 17.9% during 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. Principal Financial Group Inc. lifted its position in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after purchasing an additional 2,077 shares during the period. Aigen Investment Management LP boosted its stake in Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after buying an additional 3,092 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after buying an additional 3,334 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alignment Healthcare by 18.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after buying an additional 4,862 shares in the last quarter. 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.