Analysts Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Price Target at $18.56

Key Points

• Alignment Healthcare, Inc. (NASDAQ:ALHC) has received an average recommendation of "Moderate Buy" from analysts, with four hold ratings, five buy ratings, and one strong buy rating among ten research firms.
• The company's recent earnings report showed an EPS of $0.07, surpassing expectations, and a revenue boost of 49% year-over-year to $1.02 billion.
• Insider transactions revealed significant sales, with Director Joseph S. Konowiecki and President Dawn Christine Maroney selling 25,000 and 30,000 shares, respectively, indicating a slight decrease in their ownership stakes.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.5625.

Several analysts have recently weighed in on the company. UBS Group lifted their target price on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Zacks Research upgraded shares of Alignment Healthcare to a "hold" rating in a report on Friday, August 8th. Barclays upgraded shares of Alignment Healthcare from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $9.00 to $13.00 in a report on Thursday, July 31st. Wall Street Zen lowered shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Stephens upgraded shares of Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd.

Alignment Healthcare Price Performance

ALHC traded up $0.35 during trading on Tuesday, reaching $15.17. 340,686 shares of the company traded hands, compared to its average volume of 2,992,382. 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 has a 12-month low of $8.24 and a 12-month high of $21.06. The firm has a fifty day simple moving average of $13.73 and a 200 day simple moving average of $15.30. The company has a market cap of $3.00 billion, a P/E ratio of -54.19 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.14. Alignment Healthcare had a negative net margin of 1.53% and a negative return on equity of 43.68%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $960.25 million. During the same period last year, the firm posted ($0.13) earnings per share. Alignment Healthcare's revenue for the quarter was up 49.0% compared to the same quarter last year. On average, equities analysts forecast that Alignment Healthcare will post -0.69 EPS for the current year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 60,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.60, for a total value of $876,000.00. Following the completion of the transaction, the insider owned 642,953 shares in the company, valued at approximately $9,387,113.80. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph S. Konowiecki sold 25,000 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $16.00, for a total value of $400,000.00. Following the completion of the transaction, the director owned 1,152,049 shares of the company's stock, valued at $18,432,784. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,599,353 shares of company stock valued at $268,400,501 over the last three months. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. MCF Advisors LLC increased its position in shares of Alignment Healthcare by 87.6% in the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after buying an additional 1,011 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Alignment Healthcare in the first quarter valued at $42,000. SBI Securities Co. Ltd. boosted its stake in shares of Alignment Healthcare by 4,868.9% during the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company's stock valued at $42,000 after acquiring an additional 2,970 shares during the last quarter. KBC Group NV acquired a new stake in shares of Alignment Healthcare during the second quarter valued at $44,000. Finally, Signaturefd LLC boosted its stake in shares of Alignment Healthcare by 142.6% during the second quarter. Signaturefd LLC now owns 3,768 shares of the company's stock valued at $53,000 after acquiring an additional 2,215 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

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.