Alignment Healthcare (NASDAQ:ALHC) Given New $17.00 Price Target at UBS Group

Alignment Healthcare (NASDAQ:ALHC) had its target price upped by UBS Group from $16.00 to $17.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also weighed in on the company. Robert W. Baird lifted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Barclays boosted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $15.53 on Friday. The stock has a market cap of $3.07 billion, a PE ratio of -20.17 and a beta of 1.32. The stock has a 50-day moving average of $17.27 and a 200-day moving average of $14.28. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a one year low of $5.62 and a one year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. The firm had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 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 47.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. As a group, sell-side analysts expect that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the sale, the chief executive officer now owns 2,183,100 shares in the company, valued at approximately $31,065,513. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total value of $411,600.00. Following the completion of the transaction, the president now owns 1,576,097 shares of the company’s stock, valued at approximately $21,624,050.84. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,181,855 shares of company stock worth $35,166,057. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in Alignment Healthcare in the fourth quarter valued at $55,000. Amalgamated Bank grew its holdings in Alignment Healthcare by 21.6% during the first quarter. Amalgamated Bank now owns 3,466 shares of the company’s stock worth $65,000 after purchasing an additional 616 shares during the period. RiverPark Advisors LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $106,000. Tower Research Capital LLC TRC boosted its stake in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares during the period. Finally, Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $121,000. 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.