Analysts Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $9.18

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned an average recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $9.18.

A number of equities research analysts have weighed in on ALHC shares. Piper Sandler restated a “neutral” rating and set a $6.00 price target (down previously from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Barclays assumed coverage on Alignment Healthcare in a research note on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective on the stock. Stephens raised their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. UBS Group reduced their price objective on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Finally, Raymond James raised their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 9th.

Insider Buying and Selling

In related news, CFO Robert Thomas Freeman sold 28,522 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $144,036.10. Following the sale, the chief financial officer now directly owns 869,706 shares of the company’s stock, valued at $4,392,015.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 28,522 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total value of $144,036.10. Following the completion of the sale, the chief financial officer now directly owns 869,706 shares in the company, valued at $4,392,015.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the completion of the sale, the insider now owns 1,830,008 shares of the company’s stock, valued at $9,955,243.52. The disclosure for this sale can be found here. Insiders have sold 90,213 shares of company stock valued at $460,587 over the last ninety days. 6.30% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of ALHC. Barlow Wealth Partners Inc. purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $100,000. Teza Capital Management LLC purchased a new position in shares of Alignment Healthcare during the third quarter valued at approximately $109,000. Victory Capital Management Inc. lifted its holdings in shares of Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Alignment Healthcare during the third quarter valued at approximately $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alignment Healthcare by 75.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock valued at $183,000 after purchasing an additional 11,370 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Up 1.0 %

NASDAQ ALHC opened at $5.21 on Wednesday. The stock’s 50-day simple moving average is $5.22 and its two-hundred day simple moving average is $6.60. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $9.20. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $984.59 million, a price-to-earnings ratio of -6.59 and a beta of 1.30.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The firm had revenue of $465.39 million for the quarter, compared to analysts’ expectations of $444.56 million. During the same quarter in the previous year, the business earned ($0.31) EPS. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. Research analysts forecast that Alignment Healthcare will post -0.6 EPS for the current fiscal year.

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.