Alignment Healthcare (NASDAQ:ALHC) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Alignment Healthcare (NASDAQ:ALHC) from a buy rating to a hold rating in a report issued on Saturday morning.

A number of other brokerages have also commented on ALHC. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Barclays reduced their price objective on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Wolfe Research assumed coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 target price for the company. Zacks Research cut shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC opened at $14.56 on Friday. Alignment Healthcare has a 12-month low of $12.97 and a 12-month high of $25.12. The company has a market cap of $3.01 billion, a PE ratio of 76.64, a P/E/G ratio of 1.98 and a beta of 1.10. The stock has a 50 day simple moving average of $19.67 and a 200-day simple moving average of $19.71. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, July 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The firm’s revenue was up 31.6% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. On average, equities research analysts forecast that Alignment Healthcare will post 0.2 EPS for the current year.

Insider Buying and Selling

In other news, CEO John E. Kao sold 298,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $19.86, for a total transaction of $5,918,280.00. Following the completion of the transaction, the chief executive officer owned 1,088,766 shares in the company, valued at approximately $21,622,892.76. This trade represents a 21.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total transaction of $600,000.00. Following the completion of the sale, the executive vice president owned 1,103,816 shares in the company, valued at $26,491,584. The trade was a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,039,951 shares of company stock worth $19,976,967 in the last ninety days. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently bought and sold shares of ALHC. Summit Securities Group LLC purchased a new stake in Alignment Healthcare during the fourth quarter valued at about $26,000. Versant Capital Management Inc raised its holdings in shares of Alignment Healthcare by 463.3% during the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares during the period. Parallel Advisors LLC raised its holdings in shares of Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after acquiring an additional 773 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Alignment Healthcare in the 3rd quarter valued at approximately $33,000. Finally, First Horizon Corp acquired a new position in Alignment Healthcare in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.