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

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.17.

ALHC has been the topic of several recent research reports. UBS Group lifted their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Piper Sandler increased their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Finally, Robert W. Baird increased their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th.

Alignment Healthcare Stock Down 7.4 %

ALHC opened at $15.53 on Friday. The business has a 50 day moving average of $17.27 and a 200-day moving average of $14.29. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -20.17 and a beta of 1.32. 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 $6.37 and a 1-year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. During the same period in the prior year, the firm earned ($0.25) EPS. The business’s revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Activity

In other news, CEO John E. Kao sold 554,713 shares of Alignment Healthcare stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the completion of the sale, the chief executive officer now directly owns 4,733,664 shares of the company’s stock, valued at approximately $73,513,801.92. This trade represents a 10.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andreas P. Wagner sold 14,878 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total value of $213,945.64. Following the transaction, the insider now directly owns 200,885 shares in the company, valued at $2,888,726.30. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,181,855 shares of company stock worth $35,166,057. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALHC. Wellington Management Group LLP raised its stake in shares of Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after buying an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Millennium Management LLC raised its position in shares of Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock valued at $38,122,000 after acquiring an additional 2,896,311 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $20,087,000. Finally, Broad Bay Capital Management LP bought a new position in shares of Alignment Healthcare in the 4th quarter worth $18,804,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.