Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Rating of "Hold" by Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have received an average rating of "Hold" from the nine analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.18.

A number of research firms have recently issued reports on ALHC. Raymond James raised their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 9th. Stifel Nicolaus reduced their price target on shares of Alignment Healthcare from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday. Piper Sandler restated a "neutral" rating and issued a $6.00 price target (down from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Barclays started coverage on shares of Alignment Healthcare in a report on Wednesday, March 6th. They issued an "underweight" rating and a $4.50 price objective on the stock. Finally, Stephens increased their price objective on shares of Alignment Healthcare from $10.00 to $10.50 and gave the stock an "equal weight" rating in a report on Tuesday, January 9th.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares of the company's stock, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares of the company's stock, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao acquired 103,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the purchase, the chief executive officer now directly owns 2,745,253 shares in the company, valued at $13,232,119.46. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 90,213 shares of company stock valued at $460,587. Company insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Alignment Healthcare by 283.9% in the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company's stock worth $1,566,000 after buying an additional 233,417 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company's stock worth $196,000 after buying an additional 3,334 shares during the period. Aigen Investment Management LP boosted its holdings in shares of Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company's stock worth $170,000 after buying an additional 3,092 shares during the period. Jump Financial LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter worth about $575,000. Finally, Barlow Wealth Partners Inc. acquired a new position in shares of Alignment Healthcare in the fourth quarter worth about $100,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

Shares of ALHC stock remained flat at $5.18 on Wednesday. 591,744 shares of the stock traded hands, compared to its average volume of 872,932. The stock has a market capitalization of $978.92 million, a price-to-earnings ratio of -6.56 and a beta of 1.30. The business has a 50-day simple moving average of $5.28 and a 200 day simple moving average of $6.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $9.20.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The firm had revenue of $465.39 million during the quarter, compared to analysts' expectations of $444.56 million. During the same quarter last year, the company posted ($0.31) earnings per share. Alignment Healthcare's revenue for the quarter was up 28.6% compared to the same quarter last year. Equities analysts expect that Alignment Healthcare will post -0.59 earnings per share for the current year.

About Alignment Healthcare

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.