Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $16.00

Alignment Healthcare (NASDAQ:ALHC) had its price target raised by Stifel Nicolaus from $14.00 to $16.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. UBS Group lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. KeyCorp started coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, Barclays raised their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average price target of $11.88.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $13.51 on Tuesday. The stock has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $10.66. The stock has a market cap of $2.59 billion, a P/E ratio of -17.55 and a beta of 1.45. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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

Insider Buying and Selling at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the transaction, the chief executive officer now owns 2,273,100 shares of the company’s stock, valued at $29,686,686. This represents a 3.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph S. Konowiecki sold 6,920 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $13.73, for a total transaction of $95,011.60. Following the sale, the director now directly owns 1,134,888 shares in the company, valued at approximately $15,582,012.24. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 509,224 shares of company stock worth $6,399,990 over the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Alignment Healthcare in the 3rd quarter worth about $95,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the third quarter worth about $131,000. Creative Planning increased its stake in shares of Alignment Healthcare by 20.0% in the third 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. Intech Investment Management LLC bought a new position in Alignment Healthcare in the 3rd quarter valued at approximately $315,000. Finally, Mackenzie Financial Corp boosted its position in Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after buying an additional 19,129 shares during the period. 86.19% of the stock is currently owned by institutional investors.

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.