Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Rating of “Moderate Buy” by Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been given a consensus rating of “Moderate Buy” by the thirteen research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $21.55.

A number of brokerages have recently issued reports on ALHC. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $22.00 price objective on shares of Alignment Healthcare in a research report on Monday, November 3rd. Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. upped their price target on shares of Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Finally, Cowen reiterated a “buy” rating on shares of Alignment Healthcare in a research note on Friday.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $22.51 on Friday. The firm has a 50 day moving average of $19.08 and a 200 day moving average of $16.76. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of -187.42, a price-to-earnings-growth ratio of 5.73 and a beta of 1.16. Alignment Healthcare has a 52 week low of $11.63 and a 52 week high of $23.03.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The business had revenue of $993.70 million for the quarter, compared to the consensus estimate of $980.90 million. During the same period last year, the business posted ($0.14) EPS. The business’s revenue was up 43.5% compared to the same quarter last year. On average, sell-side analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Hyong Kim sold 16,506 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $21.35, for a total value of $352,403.10. Following the transaction, the insider directly owned 333,133 shares of the company’s stock, valued at approximately $7,112,389.55. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 228,152 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $21.33, for a total value of $4,866,482.16. Following the completion of the sale, the president owned 1,057,015 shares in the company, valued at approximately $22,546,129.95. This represents a 17.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,098,532 shares of company stock worth $40,305,138. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Alignment Healthcare by 5.0% during the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock worth $243,752,000 after acquiring an additional 664,769 shares during the period. Wellington Management Group LLP lifted its stake in shares of Alignment Healthcare by 167.3% in the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after purchasing an additional 6,940,277 shares during the period. Hood River Capital Management LLC grew its position in Alignment Healthcare by 6.0% during the second quarter. Hood River Capital Management LLC now owns 5,517,336 shares of the company’s stock valued at $77,243,000 after buying an additional 311,424 shares during the period. 8 Knots Management LLC increased its holdings in Alignment Healthcare by 6.4% in the second quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock valued at $70,222,000 after buying an additional 300,409 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Alignment Healthcare by 7.1% in the third quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock worth $77,943,000 after acquiring an additional 296,101 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.