Alignment Healthcare (NASDAQ:ALHC) Upgraded to Overweight at Stephens

Stephens upgraded shares of Alignment Healthcare (NASDAQ:ALHC) from an equal weight rating to an overweight rating in a report issued on Tuesday morning, MarketBeat reports. They currently have $17.00 target price on the stock, up from their previous target price of $13.00.

A number of other brokerages have also recently weighed in on ALHC. KeyCorp started coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Robert W. Baird upped their target price 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. Barclays lifted 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. 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 note on Tuesday, August 6th. Finally, UBS Group lifted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.44.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $12.55 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a fifty day moving average of $11.85 and a 200-day moving average of $9.83. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $14.25.

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

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 directly owns 2,543,100 shares of the company’s stock, valued at $28,813,323. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the completion of the transaction, the insider now owns 1,726,097 shares in the company, valued at $18,590,064.69. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 540,483 shares of company stock valued at $6,513,528 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in ALHC. Deerfield Management Company L.P. Series C boosted its position in shares of Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Alignment Healthcare by 94.4% during the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after buying an additional 1,507,759 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Alignment Healthcare during the 3rd quarter worth about $3,782,000. Renaissance Technologies LLC increased its stake in shares of Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after acquiring an additional 225,000 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Alignment Healthcare in the 2nd quarter valued at approximately $1,512,000. 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.