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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven brokerages that are currently covering the firm, Marketbeat 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 12 month target price among analysts that have updated their coverage on the stock in the last year is $17.17.

ALHC has been the subject of several research analyst reports. UBS Group boosted their target price 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. Bank of America lifted their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Piper Sandler lifted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th.

Alignment Healthcare Stock Down 0.5%

Shares of ALHC stock traded down $0.08 on Thursday, hitting $15.30. The stock had a trading volume of 425,515 shares, compared to its average volume of 1,974,451. The stock's 50 day moving average is $16.99 and its 200-day moving average is $14.72. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -19.76 and a beta of 1.32. Alignment Healthcare has a 52-week low of $7.05 and a 52-week high of $21.06. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

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

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Monday, May 12th. The shares were sold at an average price of $14.84, for a total transaction of $1,335,600.00. Following the completion of the sale, the chief executive officer now owns 1,913,100 shares of the company's stock, valued at $28,390,404. This trade represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the completion of the transaction, the director now directly owns 44,302,175 shares in the company, valued at $676,937,234. This trade represents a 27.73% 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 worth $294,801,511 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALHC. Barclays PLC increased its holdings in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after buying an additional 114,191 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Alignment Healthcare by 11.7% during the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock valued at $554,000 after purchasing an additional 5,163 shares in the last quarter. R Squared Ltd bought a new stake in Alignment Healthcare in the fourth quarter worth $55,000. Allspring Global Investments Holdings LLC increased 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 buying an additional 619,592 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock worth $1,527,000 after acquiring an additional 2,937 shares in the last quarter. 86.19% of the stock is 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.