Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $17.17.

A number of analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Stephens raised Alignment Healthcare to a “strong-buy” rating in a report on Monday, June 2nd. Finally, UBS Group lifted their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd.

Insider Activity

In other Alignment Healthcare news, CEO John E. Kao sold 180,000 shares of Alignment Healthcare stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $13.41, for a total transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,553,100 shares of the company’s stock, valued at $20,827,071. The trade was a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the completion of the transaction, the director owned 44,302,175 shares of the company’s stock, valued at $676,937,234. This represents a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,685,262 shares of company stock worth $269,685,496 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALHC. Vanguard Group Inc. grew its holdings in Alignment Healthcare by 13.2% in the first quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company’s stock valued at $206,941,000 after purchasing an additional 1,295,825 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Alignment Healthcare by 5.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,078,113 shares of the company’s stock valued at $169,035,000 after purchasing an additional 429,071 shares during the last quarter. Wellington Management Group LLP increased its stake in Alignment Healthcare by 0.9% during the first quarter. Wellington Management Group LLP now owns 7,509,057 shares of the company’s stock worth $139,819,000 after acquiring an additional 70,557 shares during the last quarter. Hood River Capital Management LLC increased its stake in Alignment Healthcare by 39.6% during the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after acquiring an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC boosted its position in shares of Alignment Healthcare by 28.9% in the first quarter. 8 Knots Management LLC now owns 4,715,472 shares of the company’s stock worth $87,802,000 after buying an additional 1,056,777 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Stock Down 1.8%

Shares of NASDAQ ALHC opened at $13.15 on Friday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -27.40 and a beta of 1.16. Alignment Healthcare has a 1 year low of $7.92 and a 1 year high of $21.06. The stock’s 50-day simple moving average is $14.48 and its 200-day simple moving average is $15.29.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The business’s revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.25) earnings per share. As a group, equities analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

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.