Alignment Healthcare (NASDAQ:ALHC) Price Target Cut to $9.00 by Analysts at Stifel Nicolaus

Alignment Healthcare (NASDAQ:ALHC) had its target price trimmed by Stifel Nicolaus from $11.00 to $9.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ALHC has been the subject of a number of other research reports. UBS Group decreased their target price on shares of Alignment Healthcare from $9.00 to $8.50 and set a neutral rating for the company in a research report on Wednesday, February 28th. Raymond James increased their target price on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a strong-buy rating in a research report on Tuesday, January 9th. William Blair reiterated an outperform rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Piper Sandler reiterated a neutral rating and issued a $6.00 target price (down previously from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Finally, Stephens raised their price objective on shares of Alignment Healthcare from $10.00 to $10.50 and gave the company an equal weight rating in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $9.18.

Alignment Healthcare Trading Up 3.4 %

ALHC opened at $5.18 on Tuesday. The stock has a market capitalization of $978.92 million, a PE ratio of -6.56 and a beta of 1.30. The firm’s fifty day moving average price is $5.30 and its 200 day moving average price is $6.63. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20.

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

Insider Activity

In related news, insider Dawn Christine Maroney sold 23,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Dawn Christine Maroney sold 23,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,213 shares of company stock worth $460,587. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares in the last quarter. Aigen Investment Management LP increased its stake in Alignment Healthcare by 18.5% during the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 purchasing an additional 3,334 shares in the last quarter. Swiss National Bank increased its stake in Alignment Healthcare by 1.6% during the 3rd quarter. Swiss National Bank now owns 227,800 shares of the company’s stock worth $1,581,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alignment Healthcare by 18.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after acquiring an additional 4,862 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Company Profile

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.