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

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.05.

A number of brokerages have issued reports on ALHC. Zacks Research cut Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research report on Monday, November 24th. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Barclays lifted their target price on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Finally, UBS Group upped their target price on shares of Alignment Healthcare from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st.

Alignment Healthcare Trading Down 0.3%

NASDAQ:ALHC opened at $19.36 on Monday. The firm has a market capitalization of $3.87 billion, a P/E ratio of -161.33 and a beta of 1.16. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. Alignment Healthcare has a one year low of $10.18 and a one year high of $21.06. The company’s 50-day simple moving average is $17.65 and its 200 day simple moving average is $15.84.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. The firm had revenue of $993.70 million during the quarter, compared to analyst estimates of $980.90 million. During the same period last year, the business earned ($0.14) earnings per share. The business’s revenue was up 43.5% on a year-over-year basis. As a group, analysts forecast that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John E. Kao sold 180,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $19.02, for a total transaction of $3,423,600.00. Following the transaction, the chief executive officer directly owned 2,346,726 shares of the company’s stock, valued at $44,634,728.52. This represents a 7.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Atlantic (Aln Hlth) L. General sold 6,246,096 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $16.01, for a total value of $99,999,996.96. Following the sale, the director directly owned 24,596,079 shares in the company, valued at $393,783,224.79. This trade represents a 20.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,958,253 shares of company stock worth $112,586,005 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. lifted its position in Alignment Healthcare by 31.1% in the first quarter. Raymond James Financial Inc. now owns 206,174 shares of the company’s stock worth $3,839,000 after buying an additional 48,901 shares during the last quarter. Strs Ohio purchased a new stake in shares of Alignment Healthcare in the first quarter valued at $600,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Alignment Healthcare by 32.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock worth $182,000 after acquiring an additional 3,225 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Alignment Healthcare by 1,025.2% during the 1st quarter. Acadian Asset Management LLC now owns 375,949 shares of the company’s stock worth $6,992,000 after purchasing an additional 342,537 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in Alignment Healthcare by 101.5% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 69,497 shares of the company’s stock worth $1,294,000 after purchasing an additional 35,000 shares during the period. Institutional investors own 86.19% of the company’s stock.

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.