Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock Has Consensus Target Price of $14.00

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.00.

ALHC has been the topic of several analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Monday, October 12th. The Goldman Sachs Group restated a “buy” rating and issued a $12.00 price objective on shares of Alignment Healthcare in a report on Thursday, October 22nd. Needham & Company LLC began coverage on Alignment Healthcare in a research report on Wednesday, October 28th. They issued a “hold” rating on the stock. Barclays lowered their target price on Alignment Healthcare from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, October 30th. Finally, Scotiabank set a $9.00 target price on Alignment Healthcare in a report on Friday, October 9th.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $7.34 on Thursday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.17. Alignment Healthcare has a 12-month low of $6.01 and a 12-month high of $25.12. The company has a market capitalization of $1.54 billion, a PE ratio of 56.47 and a beta of 1.07. The firm’s 50 day moving average is $9.27 and its 200-day moving average is $16.46.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, October 29th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a net margin of 0.59% and a return on equity of 12.46%. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Equities research analysts anticipate that Alignment Healthcare will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Hyong Kim sold 32,479 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $8.30, for a total transaction of $269,575.70. Following the sale, the insider owned 299,271 shares in the company, valued at $2,483,949.30. This represents a 9.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Dawn Maroney sold 122,707 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $12.68, for a total value of $1,555,924.76. Following the completion of the sale, the president directly owned 794,606 shares of the company’s stock, valued at approximately $10,075,604.08. The trade was a 13.38% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,061,967 shares of company stock valued at $13,642,490 in the last ninety days. 5.20% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Alignment Healthcare by 156.5% in the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after buying an additional 1,961,778 shares during the period. Formula Growth Ltd. acquired a new stake in shares of Alignment Healthcare in the second quarter valued at approximately $5,270,000. Bank of New York Mellon Corp bought a new position in shares of Alignment Healthcare during the 2nd quarter worth approximately $87,077,000. Principal Financial Group Inc. boosted its stake in shares of Alignment Healthcare by 36.5% during the 1st quarter. Principal Financial Group Inc. now owns 544,274 shares of the company’s stock worth $9,590,000 after acquiring an additional 145,491 shares during the period. Finally, Corient Private Wealth LP bought a new position in shares of Alignment Healthcare during the 2nd quarter worth approximately $3,247,000. 86.19% of the stock is owned by institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled health insurance company focused on providing Medicare Advantage plans for seniors. The company combines health plan coverage with care coordination and clinical services designed to help members manage chronic conditions, access providers and navigate the health care system.

Its offerings include Medicare Advantage plans, supplemental benefits and member support services. Alignment also uses its proprietary technology platform, including the Alignment Virtual Application (AVA), to support care teams, analyze health information and help deliver more personalized services to members.

Founded in 2013, Alignment Healthcare serves Medicare-eligible consumers in selected markets, including California, Florida, Nevada and North Carolina.