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

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

ALHC has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Friday, February 28th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Piper Sandler upped their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Finally, Bank of America upped their target price 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.

Alignment Healthcare Stock Performance

Alignment Healthcare stock traded up $0.06 during mid-day trading on Monday, reaching $13.76. The company's stock had a trading volume of 2,751,253 shares, compared to its average volume of 2,123,804. Alignment Healthcare has a 12-month low of $7.44 and a 12-month high of $21.06. The company has a market capitalization of $2.72 billion, a P/E ratio of -28.67 and a beta of 1.22. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.69 and a current ratio of 1.69. The firm's fifty day moving average price is $15.57 and its two-hundred day moving average price is $15.00.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released 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. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The business had revenue of $926.93 million during the quarter, compared to analyst estimates of $889.83 million. During the same period in the previous year, the business earned ($0.25) EPS. Alignment Healthcare's revenue was up 47.5% compared to the same quarter last year. Sell-side analysts predict that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, insider Christopher J. Joyce sold 25,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the completion of the sale, the insider now directly owns 415,022 shares of the company's stock, valued at $7,665,456.34. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $14.48, for a total transaction of $1,303,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,733,100 shares of the company's stock, valued at $25,095,288. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,820,262 shares of company stock worth $273,442,246. Corporate insiders own 7.00% of the company's stock.

Institutional Trading of Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its stake in Alignment Healthcare by 408.3% in the first quarter. Voya Investment Management LLC now owns 1,293,414 shares of the company's stock worth $24,083,000 after purchasing an additional 1,038,940 shares during the last quarter. Rhumbline Advisers lifted its stake in Alignment Healthcare by 4.4% in the first quarter. Rhumbline Advisers now owns 141,638 shares of the company's stock worth $2,637,000 after purchasing an additional 5,934 shares during the last quarter. Strs Ohio bought a new stake in Alignment Healthcare in the first quarter worth $600,000. Acadian Asset Management LLC lifted its stake in Alignment Healthcare by 1,025.2% in the first quarter. Acadian Asset Management LLC now owns 375,949 shares of the company's stock worth $6,992,000 after purchasing an additional 342,537 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alignment Healthcare by 16.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company's stock worth $5,729,000 after purchasing an additional 44,452 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

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.