Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $17.17

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $17.17.

A number of analysts have commented on ALHC shares. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. UBS Group lifted their price target on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Finally, Piper Sandler lifted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Andreas P. Wagner sold 7,632 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $125,164.80. Following the sale, the insider now directly owns 223,474 shares of the company's stock, valued at $3,664,973.60. The trade was a 3.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $14.84, for a total transaction of $1,335,600.00. Following the sale, the chief executive officer now directly owns 1,913,100 shares in the company, valued at $28,390,404. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,166,977 shares of company stock valued at $294,801,511 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALHC. Barclays PLC increased its stake in shares of Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after purchasing an additional 114,191 shares during the last quarter. SG Americas Securities LLC raised its holdings in Alignment Healthcare by 11.7% in the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock valued at $554,000 after acquiring an additional 5,163 shares during the period. R Squared Ltd acquired a new stake in Alignment Healthcare during the fourth quarter worth approximately $55,000. Allspring Global Investments Holdings LLC lifted its position in Alignment Healthcare by 1,672.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company's stock worth $7,591,000 after acquiring an additional 619,592 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Alignment Healthcare by 2.2% during the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock worth $1,527,000 after acquiring an additional 2,937 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded up $0.14 during midday trading on Thursday, reaching $15.51. The company had a trading volume of 3,431,604 shares, compared to its average volume of 1,986,701. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -20.14 and a beta of 1.32. The stock has a fifty day simple moving average of $16.95 and a 200 day simple moving average of $14.74. Alignment Healthcare has a 1-year low of $7.05 and a 1-year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $926.93 million during the quarter, compared to analyst estimates of $889.83 million. During the same quarter in the previous year, the business earned ($0.25) EPS. The business's quarterly revenue was up 47.5% compared to the same quarter last year. As a group, equities research analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current year.

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.