Alignment Healthcare (NASDAQ:ALHC) Upgraded by Stephens to Overweight Rating

Alignment Healthcare (NASDAQ:ALHC) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a $17.00 price objective on the stock, up from their previous price objective of $13.00. Stephens’ price objective would suggest a potential upside of 35.78% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Piper Sandler restated an “overweight” rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen upped their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Robert W. Baird upped 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. UBS Group upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, KeyCorp started coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.44.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $12.52 on Tuesday. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $14.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The business’s 50 day simple moving average is $11.88 and its 200 day simple moving average is $9.87. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -16.26 and a beta of 1.42.

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

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Hakan Kardes sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the insider now directly owns 320,444 shares in the company, valued at $4,101,683.20. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at $28,813,323. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 540,483 shares of company stock worth $6,513,528. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in shares of Alignment Healthcare during the third quarter valued at approximately $95,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alignment Healthcare in the 3rd quarter worth approximately $131,000. Virtu Financial LLC purchased a new position in Alignment Healthcare in the 1st quarter worth approximately $57,000. Creative Planning raised its holdings in Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

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.