Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $7.00 at Stephens

Alignment Healthcare (NASDAQ:ALHC) had its target price increased by Stephens from $6.00 to $7.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages also recently issued reports on ALHC. Stifel Nicolaus lowered their price target on Alignment Healthcare from $11.00 to $9.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. UBS Group lowered their price target on Alignment Healthcare from $9.00 to $8.50 and set a neutral rating on the stock in a research report on Wednesday, February 28th. Raymond James increased their target price on Alignment Healthcare from $10.00 to $12.00 and gave the company a strong-buy rating in a report on Tuesday, January 9th. William Blair reissued an outperform rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Finally, Piper Sandler reissued a neutral rating and set a $6.00 target price (down previously from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $8.83.

Alignment Healthcare Stock Performance

Shares of ALHC traded up $1.37 during mid-day trading on Friday, reaching $6.63. The company had a trading volume of 3,024,830 shares, compared to its average volume of 780,355. The stock has a market capitalization of $1.26 billion, a P/E ratio of -7.89 and a beta of 1.23. The stock has a 50 day moving average of $5.12 and a two-hundred day moving average of $6.54. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $628.60 million for the quarter, compared to analysts’ expectations of $599.75 million. Alignment Healthcare had a negative return on equity of 84.43% and a negative net margin of 7.81%. The business’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.20) EPS. On average, analysts expect that Alignment Healthcare will post -0.6 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the completion of the sale, the chief financial officer now owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the completion of the sale, the chief financial officer now owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the sale, the insider now directly owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,213 shares of company stock valued at $460,587. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. Teza Capital Management LLC purchased a new position in shares of Alignment Healthcare during the third quarter worth $109,000. Panagora Asset Management Inc. boosted its position in shares of Alignment Healthcare by 16.8% during the third quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock worth $2,400,000 after buying an additional 49,716 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Alignment Healthcare during the third quarter worth $641,000. Mackenzie Financial Corp boosted its position in shares of Alignment Healthcare by 38.1% during the third quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock worth $218,000 after buying an additional 8,577 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Alignment Healthcare by 9.4% during the third quarter. Assenagon Asset Management S.A. now owns 543,197 shares of the company’s stock worth $3,770,000 after buying an additional 46,747 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

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.