Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $18.56 Consensus Target Price from Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.5625.

ALHC has been the subject of a number of recent research reports. Barclays raised shares of Alignment Healthcare from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $9.00 to $13.00 in a research note on Thursday, July 31st. Wall Street Zen cut shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Stephens raised shares of Alignment Healthcare to a “strong-buy” rating in a research note on Monday, June 2nd. Finally, UBS Group raised their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $14.82 on Tuesday. The stock has a fifty day moving average price of $13.73 and a 200 day moving average price of $15.30. The stock has a market cap of $2.93 billion, a PE ratio of -52.93 and a beta of 1.16. Alignment Healthcare has a 1 year low of $8.24 and a 1 year high of $21.06. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.66 and a current ratio of 1.66.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.14. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $960.25 million. Alignment Healthcare had a negative return on equity of 43.68% and a negative net margin of 1.53%. Alignment Healthcare’s revenue was up 49.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) earnings per share. Sell-side analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Robert L. Scavo sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.60, for a total transaction of $876,000.00. Following the completion of the transaction, the insider directly owned 642,953 shares in the company, valued at approximately $9,387,113.80. The trade was a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John E. Kao sold 180,000 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $13.41, for a total value of $2,413,800.00. Following the transaction, the chief executive officer owned 1,553,100 shares of the company’s stock, valued at approximately $20,827,071. This represents a 10.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,599,353 shares of company stock valued at $268,400,501. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in ALHC. Wellington Management Group LLP lifted its position in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the period. Millennium Management LLC lifted its position in Alignment Healthcare by 588.3% in the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after purchasing an additional 2,896,311 shares during the period. Invesco Ltd. lifted its position in Alignment Healthcare by 122.3% in the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock worth $58,387,000 after purchasing an additional 2,294,739 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Alignment Healthcare in the fourth quarter worth approximately $20,087,000. 86.19% of the stock is currently 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.