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

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.17.

A number of brokerages have issued reports on ALHC. UBS Group upped their target price on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Stephens raised Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Robert W. Baird upped their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Finally, Stifel Nicolaus upped their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th.

Insider Buying and Selling

In other news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $15.28, for a total value of $259,760,000.00. Following the completion of the sale, the director owned 44,302,175 shares of the company's stock, valued at approximately $676,937,234. This represents a 27.73% 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, insider Robert L. Scavo sold 40,863 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $15.20, for a total value of $621,117.60. Following the completion of the sale, the insider directly owned 602,090 shares of the company's stock, valued at approximately $9,151,768. The trade was a 6.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,685,262 shares of company stock valued at $269,685,496. Corporate insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in ALHC. MCF Advisors LLC grew its stake in Alignment Healthcare by 87.6% during the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after purchasing an additional 1,011 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Alignment Healthcare during the first quarter worth approximately $42,000. Amalgamated Bank grew its stake in Alignment Healthcare by 21.6% during the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after purchasing an additional 616 shares during the period. Signaturefd LLC grew its stake in Alignment Healthcare by 142.6% during the second quarter. Signaturefd LLC now owns 3,768 shares of the company's stock worth $53,000 after purchasing an additional 2,215 shares during the period. Finally, RiverPark Advisors LLC acquired a new stake in Alignment Healthcare during the fourth quarter worth approximately $106,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of ALHC stock traded down $0.74 on Friday, hitting $12.41. 1,851,750 shares of the company's stock were exchanged, compared to its average volume of 2,237,200. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69. Alignment Healthcare has a 12 month low of $7.92 and a 12 month high of $21.06. The stock has a market cap of $2.46 billion, a P/E ratio of -25.85 and a beta of 1.16. The company has a 50 day moving average of $14.48 and a 200 day moving average of $15.29.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The business had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. During the same period in the prior year, the company earned ($0.25) EPS. Alignment Healthcare's revenue for the quarter was up 47.5% on a year-over-year basis. On average, equities research analysts predict that Alignment Healthcare will post -0.69 EPS 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.