Alignment Healthcare (NASDAQ:ALHC) Raised to "Equal Weight" at Barclays

Key Points

• Barclays upgraded Alignment Healthcare from an "underweight" to an "equal weight" rating, setting a price target of $13.00, suggesting a potential downside of 18.62% from the current stock price.
• UBS raised its price target for Alignment Healthcare to $17.00 and the stock now has a consensus rating of "Moderate Buy" with a consensus target price of $17.61.
• In the last quarter, insiders sold over 17 million shares of the company, representing significant activity and a decrease in their positions.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) was upgraded by stock analysts at Barclays from an "underweight" rating to an "equal weight" rating in a research report issued on Thursday,Finviz reports. The brokerage currently has a $13.00 price target on the stock. Barclays's target price would suggest a potential downside of 18.62% from the stock's current price.

Other analysts also recently issued reports about the company. UBS Group raised their price target 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 upgraded Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Stifel Nicolaus lifted their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Finally, Robert W. Baird lifted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.61.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $15.97 on Thursday. Alignment Healthcare has a 12 month low of $7.92 and a 12 month high of $21.06. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -32.61 and a beta of 1.16. The company's 50 day moving average is $13.93 and its two-hundred day moving average is $15.33. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.95.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.14. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $960.25 million. During the same quarter last year, the business earned ($0.13) EPS. The firm's revenue was up 49.0% compared to the same quarter last year. As a group, research analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Robert L. Scavo sold 40,863 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $15.20, for a total value of $621,117.60. Following the sale, the insider directly owned 602,090 shares in the company, valued at $9,151,768. This trade represents a 6.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $13.44, for a total value of $403,200.00. Following the completion of the sale, the president directly owned 2,042,899 shares in the company, valued at $27,456,562.56. This represents a 1.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,660,262 shares of company stock worth $269,263,746. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Alignment Healthcare by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company's stock worth $206,941,000 after acquiring an additional 1,295,825 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Alignment Healthcare by 5.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,078,113 shares of the company's stock worth $169,035,000 after acquiring an additional 429,071 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Alignment Healthcare by 0.9% during the 1st quarter. Wellington Management Group LLP now owns 7,509,057 shares of the company's stock worth $139,819,000 after acquiring an additional 70,557 shares in the last quarter. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 39.6% during the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock worth $55,721,000 after acquiring an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC lifted its position in shares of Alignment Healthcare by 28.9% during the 1st quarter. 8 Knots Management LLC now owns 4,715,472 shares of the company's stock worth $87,802,000 after purchasing an additional 1,056,777 shares during the last quarter. Hedge funds and other institutional investors 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.

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