Alignment Healthcare (NASDAQ:ALHC) Price Target Increased to $7.00 by Analysts at Stephens

Alignment Healthcare (NASDAQ:ALHC) had its target price lifted by Stephens from $6.00 to $7.00 in a research note published on Friday morning, Benzinga reports. Stephens currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on ALHC. William Blair reaffirmed an outperform rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Barclays initiated coverage on shares of Alignment Healthcare in a research report on Wednesday, March 6th. They set an underweight rating and a $4.50 price objective for the company. Stifel Nicolaus decreased their target price on shares of Alignment Healthcare from $11.00 to $9.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. Piper Sandler reaffirmed a neutral rating and set a $6.00 price target (down previously from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Finally, UBS Group decreased their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a neutral rating on the stock in a research note on Wednesday, February 28th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $8.83.

Alignment Healthcare Stock Performance

ALHC traded up $1.37 during trading on Friday, hitting $6.63. The stock had a trading volume of 3,024,830 shares, compared to its average volume of 780,355. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. The company has a 50 day moving average price of $5.12 and a 200-day moving average price of $6.54. Alignment Healthcare has a one year low of $4.46 and a one year high of $9.20. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -7.89 and a beta of 1.23.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 84.43%. The business had revenue of $628.60 million during the quarter, compared to analyst estimates of $599.75 million. During the same quarter last year, the company posted ($0.20) earnings per share. The company’s revenue was up 43.1% on a year-over-year basis. As a group, research analysts predict that Alignment Healthcare will post -0.6 EPS for the current year.

Insider Buying and Selling at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 11,858 shares of Alignment Healthcare stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the transaction, the chief financial officer now directly owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Dawn Christine Maroney sold 15,861 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $80,098.05. Following the transaction, the insider now directly owns 1,999,500 shares of the company’s stock, valued at approximately $10,097,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the transaction, the chief financial officer now owns 898,228 shares in the company, valued at $4,392,334.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,213 shares of company stock worth $460,587. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of large investors have recently bought and sold shares of ALHC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Alignment Healthcare by 75.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock valued at $183,000 after acquiring an additional 11,370 shares during the period. Mackenzie Financial Corp grew its position in Alignment Healthcare by 38.1% in 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. Strs Ohio increased its stake in Alignment Healthcare by 24.2% during the 3rd quarter. Strs Ohio now owns 85,700 shares of the company’s stock valued at $594,000 after purchasing an additional 16,700 shares in the last quarter. TD Asset Management Inc raised its holdings in Alignment Healthcare by 35.5% during the third quarter. TD Asset Management Inc now owns 348,450 shares of the company’s stock worth $2,418,000 after buying an additional 91,386 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Alignment Healthcare by 16.8% in the third quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock valued at $2,400,000 after buying an additional 49,716 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.