Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $10.33

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.33.

Several equities analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Stifel Nicolaus upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Robert W. Baird boosted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, TD Cowen upped their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $12.83 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -16.60 and a beta of 1.45. The firm’s 50 day simple moving average is $11.49 and its 200-day simple moving average is $9.28. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.19) earnings per share. Analysts expect that Alignment Healthcare will post -0.69 EPS for the current year.

Insider Activity at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 7,074 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the sale, the insider now owns 1,789,023 shares in the company, valued at $16,136,987.46. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Thomas Freeman sold 8,561 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the transaction, the chief financial officer now owns 399,429 shares in the company, valued at $3,998,284.29. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 485,507 shares of company stock valued at $5,818,335. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Alignment Healthcare during the 1st quarter worth about $57,000. nVerses Capital LLC acquired a new position in Alignment Healthcare in the third quarter valued at about $95,000. Principal Financial Group Inc. boosted its stake in Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after buying an additional 2,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare during the third quarter valued at about $131,000. Finally, Creative Planning raised its stake in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares during the period. 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.