JPMorgan Chase & Co. Issues Positive Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its price objective boosted by JPMorgan Chase & Co. from $20.00 to $23.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Alignment Healthcare in a research report on Monday, November 3rd. UBS Group increased their target price on shares of Alignment Healthcare from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. 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 boosted their price target on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Finally, KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $20.35.

Alignment Healthcare Price Performance

ALHC stock opened at $20.55 on Wednesday. The stock has a 50-day moving average price of $17.83 and a two-hundred day moving average price of $15.94. Alignment Healthcare has a 1 year low of $10.18 and a 1 year high of $21.06. The stock has a market cap of $4.11 billion, a PE ratio of -171.25 and a beta of 1.16. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99.

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

Insider Buying and Selling

In related news, Director Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $18.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director owned 1,085,973 shares in the company, valued at approximately $19,547,514. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hyong Kim sold 51,379 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $17.57, for a total value of $902,729.03. Following the transaction, the insider directly owned 362,333 shares in the company, valued at approximately $6,366,190.81. This trade represents a 12.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 842,157 shares of company stock worth $15,187,475. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Alignment Healthcare

Hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC acquired a new position in shares of Alignment Healthcare during the 3rd quarter worth approximately $33,000. SBI Securities Co. Ltd. boosted its position in Alignment Healthcare by 4,868.9% during the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock worth $42,000 after purchasing an additional 2,970 shares during the period. KBC Group NV acquired a new position in shares of Alignment Healthcare in the second quarter valued at $44,000. Signaturefd LLC raised its position in shares of Alignment Healthcare by 142.6% in the second quarter. Signaturefd LLC now owns 3,768 shares of the company’s stock valued at $53,000 after purchasing an additional 2,215 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Alignment Healthcare in the third quarter valued at about $53,000. 86.19% of the stock is 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.