Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Price Target at $9.18

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned a consensus rating of “Hold” from the nine analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.18.

A number of brokerages have commented on ALHC. Piper Sandler restated a “neutral” rating and issued a $6.00 target price (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Stephens upped their target price on shares of Alignment Healthcare from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Raymond James increased their price objective on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 9th. Barclays initiated coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday.

Insider Activity at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 28,522 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the sale, the chief financial officer now owns 869,706 shares of the company’s stock, valued at $4,392,015.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the transaction, the insider now owns 1,830,008 shares of the company’s stock, valued at $9,955,243.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 28,522 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $144,036.10. Following the completion of the transaction, the chief financial officer now directly owns 869,706 shares of the company’s stock, valued at approximately $4,392,015.30. The disclosure for this sale can be found here. Insiders sold 90,213 shares of company stock valued at $460,587 over the last 90 days. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its holdings in shares of Alignment Healthcare by 283.9% during the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after purchasing an additional 233,417 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter worth $575,000. Finally, Barlow Wealth Partners Inc. purchased a new position in shares of Alignment Healthcare during the fourth quarter worth $100,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $5.21 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $984.59 million, a price-to-earnings ratio of -6.59 and a beta of 1.30. The firm’s 50-day moving average is $5.22 and its 200 day moving average is $6.60. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $465.39 million during the quarter, compared to the consensus estimate of $444.56 million. Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. Alignment Healthcare’s revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.31) earnings per share. Research analysts predict that Alignment Healthcare will post -0.6 EPS for the current year.

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.