Barclays Raises Alignment Healthcare (NASDAQ:ALHC) Price Target to $8.00

Alignment Healthcare (NASDAQ:ALHC) had its target price lifted by Barclays from $7.00 to $8.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

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

Alignment Healthcare Stock Up 0.2 %

Shares of ALHC opened at $11.73 on Wednesday. The firm has a market cap of $2.24 billion, a P/E ratio of -15.23 and a beta of 1.47. The stock has a 50 day simple moving average of $10.67 and a two-hundred day simple moving average of $8.71. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. On average, analysts forecast that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 8,561 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the sale, the chief financial officer now directly owns 399,429 shares of the company’s stock, valued at approximately $3,998,284.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the company’s 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 transaction, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now owns 2,543,100 shares in the company, valued at $28,813,323. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,940 shares of company stock worth $3,487,014 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in Alignment Healthcare in the third quarter worth about $95,000. Creative Planning raised its stake in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Alignment Healthcare during the third quarter valued at $521,000. Mackenzie Financial Corp increased its holdings in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after acquiring an additional 19,129 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after acquiring an additional 9,595 shares in the last quarter. 86.19% of the stock is currently 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.