Zacks Research Downgrades Alignment Healthcare (NASDAQ:ALHC) to Hold

Alignment Healthcare (NASDAQ:ALHC) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on ALHC. UBS Group lifted their price target on Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Raymond James Financial set a $22.00 target price on shares of Alignment Healthcare in a report on Thursday, May 7th. Finally, KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Alignment Healthcare Price Performance

Shares of ALHC opened at $24.05 on Monday. The company has a 50 day moving average price of $19.15 and a 200-day moving average price of $19.79. Alignment Healthcare has a fifty-two week low of $11.63 and a fifty-two week high of $25.12. The stock has a market capitalization of $4.97 billion, a PE ratio of 267.22, a PEG ratio of 3.32 and a beta of 1.05. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. Alignment Healthcare’s revenue was up 33.3% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. Equities analysts predict that Alignment Healthcare will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, EVP Joseph S. Konowiecki sold 25,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the completion of the sale, the executive vice president directly owned 1,103,816 shares in the company, valued at approximately $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the sale, the president directly owned 947,313 shares of the company’s stock, valued at approximately $18,519,969.15. This represents a 3.07% decrease in their position. 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. Over the last three months, insiders have sold 1,069,951 shares of company stock worth $20,846,518. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in Alignment Healthcare during the 4th quarter worth approximately $26,000. Versant Capital Management Inc raised its holdings in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after buying an additional 773 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Alignment Healthcare during the third quarter worth $33,000. Finally, First Horizon Corp acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth $39,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.