Alignment Healthcare (NASDAQ:ALHC) Upgraded at UBS Group

Key Points

• UBS Group upgraded Alignment Healthcare to “hold,” while analysts’ overall consensus remains “Moderate Buy” with a $16.82 price target. Recent ratings have been mixed, including several price-target reductions.
• ALHC opened at $8.30, well below its 52-week high of $25.12. The company recently exceeded quarterly earnings and revenue estimates, reporting $0.17 EPS and $1.34 billion in revenue, with revenue up 31.6% year over year.
• Insiders sold shares primarily to cover tax obligations from equity vesting, including more than 1.06 million shares worth $13.6 million over the past 90 days. Institutional investors own a substantial 86.19% of the company.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) was upgraded by research analysts at UBS Group to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

ALHC has been the topic of a number of other reports. Barclays lowered their price target on Alignment Healthcare from $16.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 6th. Zacks Research downgraded Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Scotiabank set a $9.00 price objective on shares of Alignment Healthcare in a report on Friday. KeyCorp reduced their price objective on shares of Alignment Healthcare from $28.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. Finally, Wall Street Zen cut shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.82.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $8.30 on Monday. The business's 50-day simple moving average is $11.26 and its two-hundred day simple moving average is $16.50. Alignment Healthcare has a 52 week low of $6.01 and a 52 week high of $25.12. The stock has a market cap of $1.72 billion, a PE ratio of 43.69 and a beta of 1.14. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%. The business's quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, analysts forecast that Alignment Healthcare will post 0.14 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, insider Hyong Kim sold 32,479 shares of Alignment Healthcare stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $8.30, for a total value of $269,575.70. Following the sale, the insider directly owned 299,271 shares of the company's stock, valued at approximately $2,483,949.30. The trade was a 9.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Joseph Konowiecki sold 23,511 shares of the business's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $8.61, for a total value of $202,429.71. Following the completion of the sale, the executive vice president owned 1,080,305 shares in the company, valued at $9,301,426.05. This represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 1,061,967 shares of company stock valued at $13,642,490. 5.20% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

A number of large investors have recently added to or reduced their stakes in ALHC. William Blair Investment Management LLC purchased a new stake in Alignment Healthcare during the second quarter valued at approximately $184,799,000. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Alignment Healthcare in the 2nd quarter valued at approximately $87,794,000. Bank of New York Mellon Corp purchased a new position in shares of Alignment Healthcare in the 2nd quarter worth approximately $87,077,000. Bank of America Corp DE boosted its holdings in shares of Alignment Healthcare by 156.5% in the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company's stock worth $56,660,000 after purchasing an additional 1,961,778 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 276.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,458,400 shares of the company's stock worth $43,882,000 after purchasing an additional 1,805,752 shares during the period. Institutional investors own 86.19% of the company's stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.

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