Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $11.88 Consensus Target Price from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.88.

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. UBS Group boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 8,550 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the transaction, the chief operating officer now directly owns 217,395 shares in the company, valued at approximately $2,447,867.70. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.35, for a total value of $340,500.00. Following the sale, the insider now owns 1,696,097 shares of the company’s stock, valued at $19,250,700.95. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 564,224 shares of company stock worth $7,182,895 in the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in ALHC. AQR Capital Management LLC acquired a new position in Alignment Healthcare during the 2nd quarter worth approximately $1,512,000. Deerfield Management Company L.P. Series C lifted its stake 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 period. The Manufacturers Life Insurance Company boosted its holdings in Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after buying an additional 9,595 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after buying an additional 19,129 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Alignment Healthcare during the third quarter worth about $521,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 2.7 %

NASDAQ:ALHC opened at $14.97 on Friday. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $15.05. The firm has a market cap of $2.87 billion, a PE ratio of -19.44 and a beta of 1.45. 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 stock has a fifty day moving average price of $12.13 and a 200 day moving average price of $11.04.

Alignment Healthcare (NASDAQ:ALHC) last issued its 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 net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million for 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 firm’s revenue was up 51.6% compared to the same quarter last year. Sell-side analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

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.