Alignment Healthcare (NASDAQ:ALHC) Earns Overweight Rating from Stephens

Alignment Healthcare (NASDAQ:ALHC)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $17.00 target price on the stock. Stephens’ target price would suggest a potential upside of 45.30% from the stock’s current price.

Several other analysts have also recently commented on the stock. KeyCorp initiated coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $11.70 on Thursday. The business’s 50-day moving average price is $11.93 and its 200 day moving average price is $10.39. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $14.25. The firm has a market cap of $2.24 billion, a P/E ratio of -15.19 and a beta of 1.42. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

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). The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, equities research analysts expect that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Activity

In other news, CFO Robert Thomas Freeman sold 4,483 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the sale, the chief financial officer now owns 159,626 shares of the company’s stock, valued at $1,917,108.26. This represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total value of $323,100.00. Following the completion of the transaction, the insider now directly owns 1,726,097 shares in the company, valued at $18,590,064.69. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 631,504 shares of company stock valued at $7,639,287 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare in the 3rd quarter valued at about $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare in the third quarter worth $131,000. Creative Planning lifted 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 purchasing an additional 2,072 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after buying an additional 2,077 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Alignment Healthcare during the 3rd quarter valued at $315,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.