UBS Group Forecasts Strong Price Appreciation for Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare (NASDAQ:ALHC) had its price target boosted by UBS Group from $9.00 to $12.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. TD Cowen boosted their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Barclays upped their price target on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, KeyCorp assumed coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $12.95 on Wednesday. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.99. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -16.82 and a beta of 1.47. The firm’s 50-day moving average is $10.82 and its 200-day moving average is $8.82. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.61 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the business earned ($0.19) earnings per share. Equities research analysts anticipate that Alignment Healthcare will post -0.68 earnings per share for the current year.

Insider Buying and Selling

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total value of $174,000.00. Following the sale, the insider now directly owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the completion of the transaction, the chief financial officer now directly owns 399,429 shares in the company, valued at approximately $3,998,284.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the transaction, the insider now directly owns 1,796,097 shares in the company, valued at $15,626,043.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,287 shares of company stock worth $3,964,670. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new stake in Alignment Healthcare during the 1st quarter worth approximately $57,000. Virtu Financial LLC bought a new stake in Alignment Healthcare in the 1st quarter valued at about $57,000. nVerses Capital LLC bought a new position in Alignment Healthcare during the 3rd quarter worth $95,000. Creative Planning raised its stake in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Alignment Healthcare by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

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.