Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Rating of “Moderate Buy” from Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has received a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $23.60.

Several equities research analysts recently commented on ALHC shares. Barclays reduced their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Raymond James Financial lowered shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th.

Insider Activity at Alignment Healthcare

In other news, CEO John E. Kao sold 27,400 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $13.00, for a total transaction of $356,200.00. Following the completion of the sale, the chief executive officer directly owned 590,766 shares of the company’s stock, valued at $7,679,958. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 23,511 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $8.61, for a total value of $202,429.71. Following the completion of the sale, the executive vice president directly owned 1,080,305 shares of the company’s stock, valued at approximately $9,301,426.05. The trade was a 2.13% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,377,488 shares of company stock valued at $20,466,194. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of Alignment Healthcare by 8.9% in the 4th quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock worth $137,000 after acquiring an additional 566 shares during the period. PNC Financial Services Group Inc. increased its holdings in Alignment Healthcare by 9.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,445 shares of the company’s stock valued at $202,000 after buying an additional 962 shares during the period. GAMMA Investing LLC raised its stake in shares of Alignment Healthcare by 46.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock valued at $80,000 after buying an additional 1,070 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Alignment Healthcare by 463.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after acquiring an additional 1,135 shares during the period. Finally, Nykredit A S bought a new position in shares of Alignment Healthcare during the 2nd quarter worth about $36,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $7.99 on Wednesday. The company has a market capitalization of $1.66 billion, a PE ratio of 42.05 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a fifty day moving average of $14.46 and a 200-day moving average of $17.52. Alignment Healthcare has a one year low of $7.85 and a one year high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.Alignment Healthcare’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. As a group, equities analysts anticipate that Alignment Healthcare will post 0.17 EPS for the current fiscal year.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled healthcare company that provides Medicare Advantage health plans and care-management services for older adults. Through its Alignment Health Plan subsidiary, the company offers insurance coverage designed for Medicare-eligible members, including primary and specialty care coordination, prescription drug benefits, preventive services and access to a network of healthcare providers.

The company combines health-plan operations with proprietary technology intended to support personalized care.