Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock Has Consensus Price Target of $14.00 According to Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given an average rating of “Hold” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $14.00.

Several research firms recently commented on ALHC. Weiss Ratings lowered shares of Alignment Healthcare from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, October 30th. Raymond James Financial restated an “outperform” rating on shares of Alignment Healthcare in a report on Monday, October 12th. Scotiabank set a $9.00 price objective on shares of Alignment Healthcare in a report on Friday, October 9th. KeyCorp cut shares of Alignment Healthcare from an “overweight” rating to a “sector weight” rating in a report on Friday, October 30th. Finally, Barclays reduced their price objective on Alignment Healthcare from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, October 30th.

Insider Activity at Alignment Healthcare

In related news, EVP Joseph S. Konowiecki sold 23,511 shares of Alignment Healthcare stock in a transaction on Thursday, September 17th. The stock was 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 owned 1,080,305 shares of the company’s stock, valued at $9,301,426.05. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hyong Kim sold 32,479 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total value of $269,575.70. Following the sale, the insider owned 299,271 shares of the company’s stock, valued at approximately $2,483,949.30. This trade represents a 9.79% 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 ninety days, insiders have sold 763,967 shares of company stock worth $9,506,250. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of Alignment Healthcare by 9.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,445 shares of the company’s stock valued at $202,000 after purchasing an additional 962 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alignment Healthcare by 46.6% in the second quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock worth $80,000 after buying an additional 1,070 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares during the last quarter. Nykredit A S bought a new stake in Alignment Healthcare during the second quarter valued at approximately $36,000. Finally, Strs Ohio grew its position in Alignment Healthcare by 10.2% during the first quarter. Strs Ohio now owns 24,900 shares of the company’s stock valued at $439,000 after buying an additional 2,300 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Up 0.3%

Alignment Healthcare stock opened at $7.69 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.17. Alignment Healthcare has a 1-year low of $6.01 and a 1-year high of $25.12. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 59.16 and a beta of 1.07. The firm has a 50 day simple moving average of $8.91 and a 200 day simple moving average of $16.22.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a net margin of 0.59% and a return on equity of 12.46%. Alignment Healthcare’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, analysts predict that Alignment Healthcare will post -0.03 earnings per share for the current year.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc. is a technology-enabled healthcare company focused primarily on serving older adults through Medicare Advantage plans. Its health plans, offered under the Alignment Health Plan name, combine insurance coverage with care coordination and support intended to address members’ medical and everyday health needs. The company uses a care model that includes personalized care teams, member support and technology to help coordinate services across providers. Its Medicare Advantage offerings include plan options such as HMO and PPO products, with availability and benefits varying by location.