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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.17.

ALHC has been the topic of a number of recent research reports. UBS Group upped their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Stephens reaffirmed an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Barclays upped their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. Bank of America lifted their price objective 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. Finally, Piper Sandler boosted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th.

Insider Buying and Selling at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.10, for a total value of $1,719,000.00. Following the transaction, the chief executive officer now directly owns 2,003,100 shares in the company, valued at $38,259,210. This trade represents a 4.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the transaction, the president now owns 1,576,097 shares of the company's stock, valued at approximately $21,624,050.84. The trade was a 1.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,181,855 shares of company stock worth $35,166,057. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after purchasing an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after buying an additional 3,059,596 shares during the period. Millennium Management LLC boosted its stake in shares of Alignment Healthcare by 588.3% in the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock valued at $38,122,000 after buying an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Alignment Healthcare during the fourth quarter worth $20,087,000. Finally, Broad Bay Capital Management LP purchased a new position in Alignment Healthcare in the fourth quarter worth $18,804,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Trading Down 0.8 %

ALHC traded down $0.12 during mid-day trading on Friday, hitting $15.30. 264,965 shares of the stock were exchanged, compared to its average volume of 2,725,125. The firm's fifty day moving average is $17.36 and its two-hundred day moving average is $14.40. Alignment Healthcare has a 1-year low of $6.66 and a 1-year high of $21.06. The company has a market cap of $3.02 billion, a PE ratio of -19.87 and a beta of 1.32. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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