Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Rating of “Moderate Buy” from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong 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 $20.05.

ALHC has been the subject of several research reports. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Monday, November 24th. JPMorgan Chase & Co. raised Alignment Healthcare from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $18.00 to $20.00 in a research note on Monday, November 24th. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Barclays lifted their target price on Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st.

Insider Transactions at Alignment Healthcare

In related news, insider Hyong Kim sold 51,379 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $17.57, for a total value of $902,729.03. Following the completion of the sale, the insider directly owned 362,333 shares of the company’s stock, valued at $6,366,190.81. This represents a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sebastian Burzacchi sold 12,585 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $19.26, for a total transaction of $242,387.10. Following the transaction, the chief operating officer owned 237,793 shares in the company, valued at approximately $4,579,893.18. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,958,253 shares of company stock valued at $112,586,005 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. Wellington Management Group LLP increased its position in shares of Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after purchasing an additional 6,940,277 shares in the last quarter. Invesco Ltd. boosted its position in shares of Alignment Healthcare by 122.3% in the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock worth $58,387,000 after purchasing an additional 2,294,739 shares in the last quarter. Vanguard Group Inc. grew its stake in Alignment Healthcare by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company’s stock worth $206,941,000 after buying an additional 1,295,825 shares during the last quarter. Marshall Wace LLP increased its position in Alignment Healthcare by 173.3% during the 2nd quarter. Marshall Wace LLP now owns 2,039,714 shares of the company’s stock valued at $28,556,000 after buying an additional 1,293,416 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Alignment Healthcare by 61.0% during the 3rd quarter. Voya Investment Management LLC now owns 3,196,297 shares of the company’s stock valued at $55,775,000 after buying an additional 1,210,930 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Performance

ALHC stock opened at $19.36 on Monday. Alignment Healthcare has a twelve month low of $10.18 and a twelve month high of $21.06. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of -161.33 and a beta of 1.16. The business’s fifty day simple moving average is $17.65 and its two-hundred day simple moving average is $15.84. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99.

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

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.