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

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $17.17.

ALHC has been the subject of a number of recent analyst reports. Robert W. Baird raised their target price on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Stephens reissued an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, Bank of America raised their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC traded down $0.20 during midday trading on Friday, hitting $15.52. The stock had a trading volume of 1,939,476 shares, compared to its average volume of 1,822,992. Alignment Healthcare has a 1 year low of $6.66 and a 1 year high of $21.06. 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 stock has a 50 day moving average price of $17.36 and a two-hundred day moving average price of $14.35. The company has a market capitalization of $3.07 billion, a PE ratio of -20.16 and a beta of 1.32.

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, beating analysts' consensus estimates of ($0.12) by $0.07. The company had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm's revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.25) EPS. As a group, equities analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John E. Kao sold 554,713 shares of Alignment Healthcare stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the completion of the sale, the chief executive officer now directly owns 4,733,664 shares in the company, valued at $73,513,801.92. The trade was a 10.49 % 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, President Dawn Christine Maroney sold 230,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the transaction, the president now directly owns 2,132,899 shares in the company, valued at $40,738,370.90. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,181,855 shares of company stock worth $35,166,057. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its stake in shares of Alignment Healthcare by 41.0% during the 1st quarter. Mackenzie Financial Corp now owns 120,117 shares of the company's stock valued at $2,237,000 after acquiring an additional 34,942 shares during the last quarter. TD Asset Management Inc increased its position in Alignment Healthcare by 8.2% during the first quarter. TD Asset Management Inc now owns 464,896 shares of the company's stock worth $8,656,000 after purchasing an additional 35,288 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Alignment Healthcare during the first quarter worth approximately $42,000. MCF Advisors LLC boosted its holdings in shares of Alignment Healthcare by 87.6% in the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Alignment Healthcare during the 1st quarter valued at $1,044,000. 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.