Alignment Healthcare (NASDAQ:ALHC) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Alignment Healthcare (NASDAQ:ALHC) from a buy rating to a hold rating in a report issued on Saturday morning.

ALHC has been the subject of a number of other reports. TD Cowen raised their price target on shares of Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler boosted their target price on Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Monday, November 24th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.86.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $22.50 on Friday. Alignment Healthcare has a 52 week low of $11.63 and a 52 week high of $23.19. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61. The firm’s fifty day moving average is $19.33 and its 200-day moving average is $16.92. The firm has a market cap of $4.50 billion, a P/E ratio of -187.50, a P/E/G ratio of 5.92 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $993.70 million during the quarter, compared to the consensus estimate of $980.90 million. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. Alignment Healthcare’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) earnings per share. Equities analysts expect that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $22.48, for a total transaction of $674,400.00. Following the sale, the president directly owned 1,027,015 shares in the company, valued at $23,087,297.20. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hyong Kim sold 16,506 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $21.35, for a total transaction of $352,403.10. Following the transaction, the insider owned 333,133 shares of the company’s stock, valued at approximately $7,112,389.55. The trade was a 4.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,128,532 shares of company stock valued at $40,979,538 in the last ninety days. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of ALHC. Strs Ohio purchased a new position in Alignment Healthcare in the first quarter worth about $600,000. Inspire Investing LLC purchased a new stake in Alignment Healthcare during the 3rd quarter valued at approximately $1,129,000. Ameritas Investment Partners Inc. raised its position in shares of Alignment Healthcare by 32.9% during the second quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock valued at $182,000 after buying an additional 3,225 shares during the last quarter. Schroder Investment Management Group increased its holdings in Alignment Healthcare by 28.7% in the 2nd quarter. Schroder Investment Management Group now owns 248,163 shares of the company’s stock valued at $3,437,000 after acquiring an additional 55,314 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in Alignment Healthcare by 173.8% in the 2nd quarter. Jump Financial LLC now owns 1,056,600 shares of the company’s stock valued at $14,792,000 after acquiring an additional 670,750 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

About Alignment Healthcare

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.