Wall Street Zen Downgrades Alignment Healthcare (NASDAQ:ALHC) to Hold

Alignment Healthcare (NASDAQ:ALHC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. KeyCorp reissued an “overweight” rating and set a $28.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 22nd. UBS Group boosted their price objective on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Piper Sandler upped their price objective on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.56.

Alignment Healthcare Trading Down 0.7%

NASDAQ ALHC opened at $18.44 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. The stock’s 50-day simple moving average is $20.95 and its two-hundred day simple moving average is $18.65. Alignment Healthcare has a twelve month low of $11.63 and a twelve month high of $23.87. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -1,842.16, a PEG ratio of 2.72 and a beta of 1.18.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) EPS. Research analysts forecast that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, insider Christopher J. Joyce sold 10,611 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $20.03, for a total value of $212,538.33. Following the transaction, the insider owned 297,088 shares in the company, valued at approximately $5,950,672.64. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hyong Kim sold 16,506 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $21.35, for a total transaction of $352,403.10. Following the sale, the insider owned 333,133 shares of the company’s stock, valued at $7,112,389.55. This represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,147,056 shares of company stock valued at $42,192,787. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Alignment Healthcare

Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its position in Alignment Healthcare by 85.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock valued at $1,794,000 after purchasing an additional 47,472 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Alignment Healthcare in the 3rd quarter worth approximately $3,499,000. Inspire Investing LLC bought a new stake in shares of Alignment Healthcare in the 3rd quarter worth approximately $1,129,000. Ameritas Investment Partners Inc. increased its stake in shares of Alignment Healthcare by 32.9% during the second quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock valued at $182,000 after buying an additional 3,225 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Alignment Healthcare during the third quarter valued at approximately $6,873,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.