Alignment Healthcare (NASDAQ:ALHC) Lifted to Overweight at Piper Sandler

Alignment Healthcare (NASDAQ:ALHC) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $8.00 price objective on the stock, up from their previous price objective of $6.00. Piper Sandler’s price target indicates a potential upside of 15.77% from the stock’s current price.

Other research analysts also recently issued reports about the company. Raymond James increased their target price on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. Stephens boosted their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Barclays began coverage on shares of Alignment Healthcare in a report on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price target for the company. UBS Group decreased their price objective on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus dropped their target price on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.69.

Alignment Healthcare Price Performance

ALHC stock opened at $6.91 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. The company’s fifty day moving average price is $5.15 and its 200-day moving average price is $6.52. Alignment Healthcare has a one year low of $4.46 and a one year high of $9.20. The company has a market capitalization of $1.32 billion, a PE ratio of -8.23 and a beta of 1.23.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company 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 91.06% and a negative net margin of 7.81%. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) EPS. On average, equities analysts anticipate that Alignment Healthcare will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert Thomas Freeman sold 28,522 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the sale, the chief financial officer now directly owns 869,706 shares of the company’s stock, valued at $4,392,015.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Robert Thomas Freeman sold 28,522 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $144,036.10. Following the completion of the sale, the chief financial officer now owns 869,706 shares in the company, valued at $4,392,015.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares in the company, valued at $9,955,243.52. The disclosure for this sale can be found here. Insiders have sold a total of 90,213 shares of company stock worth $460,587 over the last quarter. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in shares of Alignment Healthcare in the 1st quarter worth approximately $57,000. Barlow Wealth Partners Inc. purchased a new stake in Alignment Healthcare during the fourth quarter worth $100,000. Teza Capital Management LLC bought a new stake in Alignment Healthcare during the 3rd quarter valued at $109,000. Victory Capital Management Inc. increased its holdings in shares of Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after acquiring an additional 1,962 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Alignment Healthcare during the 3rd quarter worth $116,000. 86.19% of the stock is currently owned by institutional investors.

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.