Alignment Healthcare (NASDAQ:ALHC) Rating Increased to Overweight at Stephens

Alignment Healthcare (NASDAQ:ALHC) was upgraded by 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 firm presently has a $17.00 target price on the stock, up from their previous target price of $13.00. Stephens’ target price would indicate a potential upside of 32.40% from the company’s previous close.

Several other research analysts have also recently weighed in on ALHC. UBS Group boosted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays boosted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed 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. Robert W. Baird boosted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, TD Cowen upped their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Stock Up 1.8 %

Alignment Healthcare stock opened at $12.84 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -16.68 and a beta of 1.42. The firm’s fifty day moving average price is $11.81 and its two-hundred day moving average price is $9.79.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same quarter last year, the company earned ($0.19) earnings per share. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, equities research analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total transaction of $85,695.61. Following the transaction, the chief financial officer now directly owns 399,429 shares in the company, valued at $3,998,284.29. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hakan Kardes sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $11.48, for a total value of $287,000.00. Following the transaction, the insider now directly owns 380,444 shares in the company, valued at $4,367,497.12. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 543,433 shares of company stock valued at $6,543,028. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Deerfield Management Company L.P. Series C boosted its holdings in shares of Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the period. Vanguard Group Inc. lifted its stake in Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after acquiring an additional 93,262 shares during the period. Hood River Capital Management LLC boosted its holdings in Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after acquiring an additional 185,854 shares in the last quarter. William Blair Investment Management LLC increased its position in Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock worth $28,875,000 after purchasing an additional 32,839 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.