Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Average Recommendation of "Moderate Buy" by Analysts

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 earned an average recommendation of "Moderate Buy" from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $18.5625.

Several research firms have recently weighed in on ALHC. Barclays upgraded Alignment Healthcare from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $9.00 to $13.00 in a research note on Thursday, July 31st. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Wall Street Zen cut Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday. UBS Group boosted their price target on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird boosted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th.

Alignment Healthcare Trading Up 0.7%

ALHC opened at $14.61 on Tuesday. The stock has a market cap of $2.89 billion, a PE ratio of -52.18 and a beta of 1.16. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.29. The business has a 50 day moving average of $13.76 and a 200-day moving average of $15.31. Alignment Healthcare has a 52 week low of $8.17 and a 52 week high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.14. The company 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%. The firm's revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) EPS. Equities research analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, Director Joseph S. Konowiecki sold 25,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 1,152,049 shares in the company, valued at approximately $18,432,784. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $13.44, for a total value of $403,200.00. Following the completion of the sale, the president owned 2,042,899 shares in the company, valued at approximately $27,456,562.56. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,610,753 shares of company stock valued at $268,576,157. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MCF Advisors LLC lifted its position in Alignment Healthcare by 87.6% during the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after acquiring an additional 1,011 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Alignment Healthcare during the 1st quarter worth about $42,000. SBI Securities Co. Ltd. raised its stake in shares of Alignment Healthcare by 4,868.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company's stock valued at $42,000 after buying an additional 2,970 shares during the last quarter. KBC Group NV purchased a new position in shares of Alignment Healthcare during the 2nd quarter valued at about $44,000. Finally, Amalgamated Bank raised its stake in shares of Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after buying an additional 616 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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