Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have been given an average rating of "Moderate Buy" by the eleven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $17.17.

ALHC has been the topic of several research analyst reports. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. UBS Group upped their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Stifel Nicolaus upped their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Finally, Robert W. Baird increased their target price 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 Stock Up 0.7%

Shares of ALHC stock traded up $0.09 on Friday, hitting $12.50. 4,488,121 shares of the stock were exchanged, compared to its average volume of 2,254,569. Alignment Healthcare has a fifty-two week low of $7.92 and a fifty-two week high of $21.06. The firm has a market capitalization of $2.47 billion, a P/E ratio of -26.04 and a beta of 1.16. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.95. The business has a 50-day moving average of $14.42 and a 200 day moving average of $15.35.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $889.83 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. Alignment Healthcare's revenue was up 47.5% on a year-over-year basis. Equities analysts anticipate that Alignment Healthcare will post -0.69 EPS for the current year.

Insider Buying and Selling at Alignment Healthcare

In related news, 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 transaction of $403,200.00. Following the sale, the president owned 2,042,899 shares of the company's stock, valued at $27,456,562.56. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John E. Kao sold 180,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $13.41, for a total value of $2,413,800.00. Following the sale, the chief executive officer directly owned 1,553,100 shares in the company, valued at $20,827,071. This represents a 10.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,685,262 shares of company stock valued at $269,685,496 over the last ninety days. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of large investors have recently added to or reduced their stakes in ALHC. Vanguard Group Inc. boosted its holdings in shares of Alignment Healthcare by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company's stock valued at $206,941,000 after purchasing an additional 1,295,825 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Alignment Healthcare by 5.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,078,113 shares of the company's stock valued at $169,035,000 after purchasing an additional 429,071 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Alignment Healthcare by 0.9% in the 1st quarter. Wellington Management Group LLP now owns 7,509,057 shares of the company's stock valued at $139,819,000 after purchasing an additional 70,557 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock valued at $55,721,000 after purchasing an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC boosted its holdings in shares of Alignment Healthcare by 28.9% in the 1st quarter. 8 Knots Management LLC now owns 4,715,472 shares of the company's stock valued at $87,802,000 after purchasing an additional 1,056,777 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

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.