UBS Group Forecasts Strong Price Appreciation for Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare (NASDAQ:ALHC) had its price target hoisted by investment analysts at UBS Group from $9.00 to $12.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential downside of 3.23% from the company’s previous close.

A number of other brokerages also recently commented on ALHC. Stifel Nicolaus lifted their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Barclays raised their price objective on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Finally, Robert W. Baird increased their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Alignment Healthcare Stock Up 5.7 %

Shares of ALHC stock opened at $12.40 on Wednesday. The firm’s fifty day moving average price is $10.74 and its two-hundred day moving average price is $8.73. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $12.44. The firm has a market capitalization of $2.37 billion, a P/E ratio of -16.10 and a beta of 1.47.

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, hitting the consensus estimate of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) EPS. On average, equities analysts predict that Alignment Healthcare will post -0.67 EPS for the current fiscal year.

Insider Activity

In related news, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the transaction, the insider now directly owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare 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 sale, the chief financial officer now directly owns 399,429 shares in the company, valued at approximately $3,998,284.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the sale, the insider now directly owns 1,796,097 shares in the company, valued at $15,626,043.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,287 shares of company stock valued at $3,964,670. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently modified their holdings of ALHC. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the third quarter worth $95,000. Virtu Financial LLC acquired a new stake in Alignment Healthcare during the first quarter worth about $57,000. Principal Financial Group Inc. bought a new position in Alignment Healthcare in the 1st quarter valued at about $57,000. Creative Planning increased its holdings in 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 buying an additional 2,072 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Alignment Healthcare by 110.0% in the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after buying an additional 19,129 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.