Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Price Target at $10.33

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $10.33.

ALHC has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. TD Cowen raised their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. KeyCorp initiated coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating for the company. UBS Group raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th.

Insider Activity at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the transaction, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at $28,813,323. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, September 11th. The shares were 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. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 515,507 shares of company stock valued at $6,158,835. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Alignment Healthcare in the first quarter valued at approximately $918,000. Vanguard Group Inc. increased its position in Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after acquiring an additional 93,262 shares during the period. Deerfield Management Company L.P. Series C increased its position in Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the period. Bank of New York Mellon Corp increased its position in Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after acquiring an additional 82,559 shares during the period. Finally, Hood River Capital Management LLC increased its position in Alignment Healthcare by 6.4% during the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after acquiring an additional 185,854 shares during the period. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $11.49 on Friday. The firm’s 50 day moving average is $11.59 and its 200-day moving average is $9.38. The stock has a market capitalization of $2.20 billion, a P/E ratio of -14.92 and a beta of 1.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) EPS. Equities research analysts anticipate that Alignment Healthcare will post -0.69 EPS for the current fiscal 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.