Analysts Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $11.44

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $11.44.

A number of research firms have issued reports on ALHC. Stephens raised shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $17.00 in a research report on Tuesday, December 3rd. UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp initiated coverage on Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating for the company.

Alignment Healthcare Price Performance

Shares of ALHC opened at $11.25 on Monday. 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 company’s fifty day moving average price is $11.89 and its 200-day moving average price is $10.35. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The firm has a market capitalization of $2.16 billion, a PE ratio of -14.61 and a beta of 1.42.

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

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total value of $1,048,500.00. Following the sale, the chief executive officer now owns 2,363,100 shares in the company, valued at $27,530,115. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Hyong Kim sold 22,460 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total transaction of $247,733.80. Following the transaction, the insider now owns 533,070 shares of the company’s stock, valued at approximately $5,879,762.10. This trade represents a 4.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 631,504 shares of company stock valued at $7,639,287. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Verition Fund Management LLC boosted its position in Alignment Healthcare by 85.3% during the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after acquiring an additional 55,771 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares during the last quarter. Barclays PLC grew its position in shares of Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares in the last quarter. Deerfield Management Company L.P. Series C increased its holdings in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after buying an additional 82,559 shares in the last quarter. 86.19% of the stock is 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.