Alignment Healthcare (NASDAQ:ALHC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Alignment Healthcare's stock has been upgraded by Wall Street Zen from "hold" to "buy," reflecting increased investor confidence.
• Multiple analysts, including Robert W. Baird and Stifel Nicolaus, have raised their target prices for the stock, with a consensus target price now at $17.61.
• The company reported a 49% increase in quarterly revenue year-over-year, outperforming analyst estimates with earnings of $0.07 per share.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

ALHC has been the topic of several other reports. UBS Group raised their price target on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Robert W. Baird upped their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. 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. Barclays raised Alignment Healthcare from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $9.00 to $13.00 in a report on Thursday. Finally, Stephens raised Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alignment Healthcare presently has an average rating of "Moderate Buy" and a consensus price target of $17.61.

Alignment Healthcare Stock Up 5.3%

Alignment Healthcare stock traded up $0.69 during mid-day trading on Friday, hitting $13.66. 5,011,042 shares of the company's stock were exchanged, compared to its average volume of 3,033,100. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.29. The stock has a market cap of $2.71 billion, a P/E ratio of -48.78 and a beta of 1.16. Alignment Healthcare has a 1-year low of $8.05 and a 1-year high of $21.06. The stock has a 50 day moving average of $13.89 and a two-hundred day moving average of $15.34.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.14. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $960.25 million. Alignment Healthcare had a negative return on equity of 43.68% and a negative net margin of 1.53%. The firm's revenue was up 49.0% compared to the same quarter last year. During the same period last year, the business posted ($0.13) earnings per share. As a group, analysts anticipate that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insider Activity

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,491 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $16.01, for a total value of $248,010.91. Following the completion of the sale, the insider owned 374,531 shares in the company, valued at approximately $5,996,241.31. This trade represents a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $13.44, for a total transaction of $403,200.00. Following the transaction, the president owned 2,042,899 shares in the company, valued at $27,456,562.56. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,700,753 shares of company stock worth $269,911,757. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. MCF Advisors LLC raised its position in shares of Alignment Healthcare by 87.6% during the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after acquiring an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Alignment Healthcare in the 1st quarter valued at $42,000. Signaturefd LLC grew its holdings in shares of Alignment Healthcare by 142.6% in the 2nd quarter. Signaturefd LLC now owns 3,768 shares of the company's stock valued at $53,000 after buying an additional 2,215 shares during the period. Amalgamated Bank grew its holdings in shares of Alignment Healthcare by 21.6% in the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after buying an additional 616 shares during the period. Finally, RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $106,000. Institutional investors and hedge funds 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.