Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $9.11 Average Target Price from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given an average rating of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $9.11.

A number of research analysts recently weighed in on ALHC shares. Stephens raised their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Robert W. Baird started coverage on shares of Alignment Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 target price for the company. Bank of America raised shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their target price for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. Piper Sandler raised shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and raised their target price for the company from $6.00 to $8.00 in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus decreased their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd.

Alignment Healthcare Trading Up 1.4 %

Shares of NASDAQ:ALHC opened at $7.90 on Monday. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $9.20. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.23. The company’s fifty day simple moving average is $7.51 and its 200 day simple moving average is $6.65. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -9.40 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $628.60 million for the quarter, compared to analyst estimates of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The company’s revenue was up 43.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) earnings per share. As a group, research analysts forecast that Alignment Healthcare will post -0.67 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the sale, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total value of $164,200.00. Following the completion of the sale, the insider now owns 1,956,097 shares in the company, valued at approximately $16,059,556.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the sale, the insider now owns 422,912 shares of the company’s stock, valued at approximately $3,387,525.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,866 shares of company stock worth $307,360. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in ALHC. Hood River Capital Management LLC grew its holdings in shares of Alignment Healthcare by 49.6% during the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Alignment Healthcare by 283.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after purchasing an additional 233,417 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Alignment Healthcare during the 1st quarter valued at approximately $918,000. Finally, Blue Trust Inc. grew its holdings in shares of Alignment Healthcare by 47.4% during the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock valued at $1,272,000 after purchasing an additional 82,476 shares during the last quarter. 86.19% of the stock is currently 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.