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

Key Points

• Broker sentiment is positive on Alignment Healthcare, with 10 analysts averaging a “Moderate Buy” rating and a mean 1-year price target of $24.30. Recent updates included upgrades from Zacks Research and Weiss Ratings, though Barclays cut its target to $16.00.
• Insiders have been selling shares, including President Dawn Christine Maroney and CEO John E. Kao. Over the last three months, insiders sold 1,548,741 shares worth about $29.0 million.
• The company recently posted strong quarterly results, reporting EPS of $0.05 versus the $0.01 estimate and revenue of $1.24 billion, up 33.3% year over year. The stock opened at $15.37, below its 50-day and 200-day moving averages.

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have been given an average rating of "Moderate Buy" by the ten brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $24.30.

A number of analysts recently issued reports on ALHC shares. Zacks Research raised shares of Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Wolfe Research initiated coverage on Alignment Healthcare in a research note on Friday, April 17th. They issued an "outperform" rating and a $24.00 price objective for the company. Weiss Ratings upgraded shares of Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Barclays lowered their target price on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 26th. Finally, UBS Group upped their price target on Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Friday, May 1st.

Insiders Place Their Bets

In other Alignment Healthcare news, President Dawn Christine Maroney sold 36,749 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total value of $655,602.16. Following the completion of the sale, the president directly owned 1,058,813 shares in the company, valued at $18,889,223.92. This represents a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John E. Kao sold 298,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $16.89, for a total value of $5,033,220.00. Following the completion of the sale, the chief executive officer directly owned 1,508,641 shares of the company's stock, valued at $25,480,946.49. This trade represents a 16.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,548,741 shares of company stock worth $29,039,941 in the last three months. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP acquired a new stake in shares of Alignment Healthcare during the 3rd quarter worth about $4,581,000. 1492 Capital Management LLC lifted its position in Alignment Healthcare by 61.8% in the fourth quarter. 1492 Capital Management LLC now owns 324,865 shares of the company's stock valued at $6,416,000 after buying an additional 124,143 shares during the last quarter. Cinctive Capital Management LP acquired a new position in Alignment Healthcare in the third quarter valued at about $3,814,000. Vanguard Group Inc. boosted its stake in Alignment Healthcare by 5.0% during the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company's stock worth $243,752,000 after buying an additional 664,769 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Alignment Healthcare by 43.4% during the third quarter. William Blair Investment Management LLC now owns 2,119,952 shares of the company's stock worth $36,993,000 after buying an additional 641,381 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $15.37 on Monday. The company's fifty day moving average price is $18.34 and its 200-day moving average price is $19.33. The firm has a market capitalization of $3.18 billion, a P/E ratio of 170.78, a PEG ratio of 2.08 and a beta of 1.14. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. Alignment Healthcare has a 1-year low of $11.63 and a 1-year high of $23.87.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company's revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, equities research analysts anticipate that Alignment Healthcare will post 0.2 EPS for the current year.

About Alignment Healthcare

Alignment Healthcare, Inc NASDAQ: ALHC is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare's approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

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