UBS Group Upgrades Alignment Healthcare (NASDAQ:ALHC) to Hold

Alignment Healthcare (NASDAQ:ALHC) was upgraded by analysts at UBS Group to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other brokerages have also recently commented on ALHC. Zacks Research cut Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. William Blair downgraded shares of Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Friday. Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Scotiabank set a $9.00 price objective on shares of Alignment Healthcare in a research note on Friday. Finally, KeyCorp dropped their price objective on shares of Alignment Healthcare from $28.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.82.

Alignment Healthcare Trading Up 2.6%

Alignment Healthcare stock opened at $8.30 on Monday. The business has a 50 day moving average price of $11.26 and a two-hundred day moving average price of $16.50. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 43.69 and a beta of 1.14. Alignment Healthcare has a 12 month low of $6.01 and a 12 month high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%. Alignment Healthcare’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. As a group, equities analysts forecast that Alignment Healthcare will post 0.14 EPS for the current year.

Insider Buying and Selling

In other news, EVP Joseph Konowiecki sold 23,511 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $8.61, for a total value of $202,429.71. Following the sale, the executive vice president directly owned 1,080,305 shares in the company, valued at approximately $9,301,426.05. This represents a 2.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Kao sold 27,400 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $13.00, for a total value of $356,200.00. Following the completion of the sale, the chief executive officer owned 590,766 shares in the company, valued at approximately $7,679,958. This represents a 4.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,061,967 shares of company stock valued at $13,642,490 over the last ninety days. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of large investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new position in Alignment Healthcare during the second quarter worth $1,164,000. Arizona State Retirement System lifted its holdings in shares of Alignment Healthcare by 15.8% during the second quarter. Arizona State Retirement System now owns 53,553 shares of the company’s stock valued at $1,275,000 after acquiring an additional 7,318 shares during the period. Nykredit A S bought a new position in shares of Alignment Healthcare during the second quarter valued at $36,000. Corient Private Wealth LP boosted its stake in shares of Alignment Healthcare by 128.2% in the 2nd quarter. Corient Private Wealth LP now owns 136,505 shares of the company’s stock valued at $3,250,000 after purchasing an additional 76,677 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Alignment Healthcare in the 2nd quarter valued at $755,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.