Alignment Healthcare (NASDAQ:ALHC) Given New $12.00 Price Target at UBS Group

Alignment Healthcare (NASDAQ:ALHC) had its price objective raised by UBS Group from $9.00 to $12.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. TD Cowen boosted their price target on Alignment Healthcare to $10.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Barclays boosted their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, Stifel Nicolaus raised their price target 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Alignment Healthcare Trading Up 0.2 %

Alignment Healthcare stock opened at $11.73 on Wednesday. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $12.36. The stock has a 50-day moving average price of $10.67 and a 200 day moving average price of $8.71. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -15.23 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. During the same period in the prior year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Sell-side analysts anticipate that Alignment Healthcare will post -0.67 EPS for the current year.

Insider Activity at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 7,074 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the transaction, the insider now directly owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Thomas Freeman sold 8,561 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the completion of the sale, the chief financial officer now directly owns 399,429 shares of the company’s stock, valued at approximately $3,998,284.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dawn Christine Maroney sold 7,074 shares of Alignment Healthcare stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the sale, the insider now owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,940 shares of company stock valued at $3,487,014. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Alignment Healthcare during the third quarter worth about $95,000. Virtu Financial LLC purchased a new stake in Alignment Healthcare during the 1st quarter worth approximately $57,000. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the 1st quarter valued at approximately $57,000. Creative Planning boosted its position 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 grew its stake in shares of Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after acquiring an additional 19,129 shares in the last quarter. Institutional investors and hedge funds 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.