Alignment Healthcare (NASDAQ:ALHC) Given New $7.00 Price Target at Stephens

Alignment Healthcare (NASDAQ:ALHC) had its price objective lifted by Stephens from $6.00 to $7.00 in a report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the stock. Raymond James lifted their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a strong-buy rating in a report on Tuesday, January 9th. UBS Group reduced their target price on Alignment Healthcare from $9.00 to $8.50 and set a neutral rating on the stock in a report on Wednesday, February 28th. Stifel Nicolaus dropped their price target on Alignment Healthcare from $11.00 to $9.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. Piper Sandler reaffirmed a neutral rating and issued a $6.00 price objective (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Finally, Barclays assumed coverage on shares of Alignment Healthcare in a research report on Wednesday, March 6th. They set an underweight rating and a $4.50 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare has a consensus rating of Hold and a consensus target price of $8.47.

Alignment Healthcare Stock Up 26.0 %

Shares of NASDAQ:ALHC opened at $6.63 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -7.89 and a beta of 1.23. The stock’s 50-day moving average price is $5.12 and its two-hundred day moving average price is $6.53. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 84.43% and a negative net margin of 7.81%. The company had revenue of $628.60 million for the quarter, compared to analysts’ expectations of $599.75 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. The company’s revenue was up 43.1% on a year-over-year basis. On average, research analysts forecast that Alignment Healthcare will post -0.6 EPS for the current year.

Insider Activity

In related news, CFO Robert Thomas Freeman sold 28,522 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $144,036.10. Following the transaction, the chief financial officer now directly owns 869,706 shares of the company’s stock, valued at approximately $4,392,015.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Robert Thomas Freeman sold 28,522 shares of Alignment Healthcare stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the sale, the chief financial officer now owns 869,706 shares of the company’s stock, valued at approximately $4,392,015.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao acquired 103,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the acquisition, the chief executive officer now directly owns 2,745,253 shares in the company, valued at $13,232,119.46. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 90,213 shares of company stock worth $460,587. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare in the 1st quarter valued at approximately $57,000. Barlow Wealth Partners Inc. acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth approximately $100,000. Teza Capital Management LLC bought a new stake in shares of Alignment Healthcare in the third quarter worth $109,000. Victory Capital Management Inc. raised its holdings in Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Alignment Healthcare during the 3rd quarter valued at $116,000. Institutional investors and hedge funds 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.