Alignment Healthcare (NASDAQ:ALHC) Price Target Cut to $9.00

Alignment Healthcare (NASDAQ:ALHC - Free Report) had its target price reduced by Stifel Nicolaus from $11.00 to $9.00 in a research note issued to investors on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Barclays began coverage on Alignment Healthcare in a research report on Wednesday, March 6th. They set an underweight rating and a $4.50 target price on the stock. William Blair reaffirmed an outperform rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Piper Sandler reissued a neutral rating and set a $6.00 price target (down previously from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Raymond James boosted their price target on Alignment Healthcare from $10.00 to $12.00 and gave the stock a strong-buy rating in a research note on Tuesday, January 9th. Finally, UBS Group decreased their price target on Alignment Healthcare from $9.00 to $8.50 and set a neutral rating on the stock in a research note on Wednesday, February 28th. One 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $9.18.

Alignment Healthcare Stock Up 3.4 %

NASDAQ:ALHC traded up $0.17 during midday trading on Tuesday, reaching $5.18. The company had a trading volume of 806,688 shares, compared to its average volume of 876,538. The firm has a market capitalization of $978.92 million, a price-to-earnings ratio of -6.56 and a beta of 1.30. The stock's fifty day simple moving average is $5.30 and its 200-day simple moving average is $6.63. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The business had revenue of $465.39 million for the quarter, compared to analysts' expectations of $444.56 million. During the same period last year, the firm earned ($0.31) earnings per share. The firm's quarterly revenue was up 28.6% on a year-over-year basis. On average, sell-side analysts anticipate that Alignment Healthcare will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

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

Institutional Trading of Alignment Healthcare

Several large investors have recently added to or reduced their stakes in the stock. Barlow Wealth Partners Inc. purchased a new position in Alignment Healthcare in the 4th quarter valued at about $100,000. Teza Capital Management LLC bought a new position in shares of Alignment Healthcare during the third quarter worth about $109,000. Victory Capital Management Inc. lifted its position in shares of Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company's stock worth $111,000 after purchasing an additional 1,962 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Alignment Healthcare during the third quarter worth about $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Alignment Healthcare by 75.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company's stock worth $183,000 after purchasing an additional 11,370 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.