Alignment Healthcare (NASDAQ:ALHC) PT Lowered to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective lowered by equities research analysts at Stifel Nicolaus from $11.00 to $9.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 73.75% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Raymond James raised their target price on Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 9th. UBS Group decreased their target price on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Stephens raised their target price on Alignment Healthcare from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Tuesday, January 9th. Piper Sandler reiterated a “neutral” rating and issued a $6.00 price target (down from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Finally, Barclays started coverage on Alignment Healthcare in a research report on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Hold” and an average price target of $9.18.

Alignment Healthcare Price Performance

ALHC stock opened at $5.18 on Tuesday. The stock’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $6.62. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $9.20. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $978.92 million, a P/E ratio of -6.56 and a beta of 1.30.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The company had revenue of $465.39 million during the quarter, compared to the consensus estimate of $444.56 million. During the same quarter in the prior year, the business earned ($0.31) EPS. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. On average, research analysts expect that Alignment Healthcare will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Dawn Christine Maroney sold 23,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the completion of the transaction, the insider now directly owns 1,830,008 shares in the company, valued at $9,955,243.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Dawn Christine Maroney sold 23,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the completion of the transaction, the insider now directly owns 1,830,008 shares in the company, valued at $9,955,243.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John E. Kao bought 103,000 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $4.82 per share, with a total value of $496,460.00. Following the completion of the transaction, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The disclosure for this purchase can be found here. Insiders sold a total of 90,213 shares of company stock worth $460,587 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in ALHC. Teza Capital Management LLC purchased a new position in Alignment Healthcare during the 3rd quarter valued at about $109,000. Panagora Asset Management Inc. increased its holdings in Alignment Healthcare by 16.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock valued at $2,400,000 after purchasing an additional 49,716 shares during the period. Los Angeles Capital Management LLC purchased a new position in Alignment Healthcare during the 3rd quarter valued at about $641,000. Mackenzie Financial Corp increased its holdings in Alignment Healthcare by 38.1% during the 3rd quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock valued at $218,000 after purchasing an additional 8,577 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Alignment Healthcare by 9.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 543,197 shares of the company’s stock valued at $3,770,000 after purchasing an additional 46,747 shares during the period. Institutional investors 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.