Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Average Recommendation of “Hold” by Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the company, MarketBeat reports. One equities 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 assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.18.

ALHC has been the topic of several research analyst reports. Raymond James upped their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 9th. Stephens boosted their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. Barclays began coverage on shares of Alignment Healthcare in a research report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 target price for the company. Piper Sandler reissued a “neutral” rating and issued a $6.00 price target (down previously from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th.

Alignment Healthcare Trading Up 3.4 %

Shares of Alignment Healthcare stock opened at $5.18 on Wednesday. The firm has a market cap of $978.92 million, a PE ratio of -6.56 and a beta of 1.30. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $9.20. 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 stock has a fifty day moving average price of $5.30 and a 200-day moving average price of $6.63.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $465.39 million for the quarter, compared to analysts’ expectations of $444.56 million. Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) EPS. Equities research analysts anticipate that Alignment Healthcare will post -0.59 EPS for the current year.

Insider Transactions at Alignment Healthcare

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

Institutional Investors Weigh In On Alignment Healthcare

A number of large investors have recently added to or reduced their stakes in ALHC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Alignment Healthcare by 75.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock worth $183,000 after purchasing an additional 11,370 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Alignment Healthcare by 38.1% in the third quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock worth $218,000 after buying an additional 8,577 shares in the last quarter. Strs Ohio grew its position in Alignment Healthcare by 24.2% during the third quarter. Strs Ohio now owns 85,700 shares of the company’s stock valued at $594,000 after acquiring an additional 16,700 shares during the last quarter. TD Asset Management Inc grew its position in Alignment Healthcare by 35.5% during the third quarter. TD Asset Management Inc now owns 348,450 shares of the company’s stock valued at $2,418,000 after acquiring an additional 91,386 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Alignment Healthcare by 16.8% during the third quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock worth $2,400,000 after acquiring an additional 49,716 shares in the last quarter. Hedge funds and other institutional investors 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.