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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $9.20.

A number of equities research analysts recently weighed in on ALHC shares. Robert W. Baird started coverage on shares of Alignment Healthcare in a report on Thursday, May 30th. They set an “outperform” rating and a $10.00 price objective for the company. Bank of America raised shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. Stephens lifted their price target on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Barclays initiated coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price target for the company.

Check Out Our Latest Stock Report on Alignment Healthcare

Insider Activity at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now directly owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now directly owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total transaction of $164,200.00. Following the transaction, the insider now directly owns 1,956,097 shares in the company, valued at $16,059,556.37. The disclosure for this sale can be found here. Insiders have sold a total of 43,320 shares of company stock valued at $331,653 over the last ninety days. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Alignment Healthcare in the first quarter worth $57,000. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the first quarter worth $57,000. Barlow Wealth Partners Inc. purchased a new position in Alignment Healthcare in the fourth quarter worth $100,000. Victory Capital Management Inc. grew its stake in shares of Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after buying an additional 1,962 shares during the period. Finally, Teza Capital Management LLC purchased a new stake in shares of Alignment Healthcare in the 3rd quarter valued at approximately $109,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $7.55 on Thursday. The firm has a 50-day moving average price of $6.65 and a 200-day moving average price of $6.69. The firm has a market capitalization of $1.44 billion, a PE ratio of -8.99 and a beta of 1.44. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. Alignment Healthcare’s revenue was up 43.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. As a group, equities research analysts forecast that Alignment Healthcare will post -0.67 EPS for the current year.

Alignment Healthcare Company Profile

(Get Free Report

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.

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Analyst Recommendations for Alignment Healthcare (NASDAQ:ALHC)

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