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

Alignment Healthcare (NASDAQ:ALHC) had its target price upped by Barclays from $4.50 to $7.00 in a research report released on Monday, Benzinga reports. The firm currently has an underweight rating on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler upgraded shares of Alignment Healthcare from a neutral rating to an overweight rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Wednesday, May 8th. Stephens raised their price target on shares of Alignment Healthcare from $6.00 to $7.00 and gave the stock an equal weight rating in a research report on Friday, May 3rd. Baird R W upgraded shares of Alignment Healthcare to a strong-buy rating in a research report on Thursday, May 30th. Robert W. Baird began coverage on shares of Alignment Healthcare in a report on Thursday, May 30th. They issued an outperform rating and a $10.00 price objective on the stock. Finally, Bank of America raised shares of Alignment Healthcare from a neutral rating to a buy rating and increased their price objective for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $9.95.

Alignment Healthcare Trading Down 3.8 %

NASDAQ ALHC opened at $8.42 on Monday. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $10.16. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -10.02 and a beta of 1.43. The company’s fifty day moving average price is $8.42 and its two-hundred day moving average price is $6.80.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 95.55%. The firm had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. During the same period in the prior year, the firm posted ($0.15) EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. As a group, research analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 22,100 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total value of $221,000.00. Following the transaction, the chief financial officer now owns 497,329 shares of the company’s stock, valued at approximately $4,973,290. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alignment Healthcare news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the completion of the transaction, the insider now directly owns 422,912 shares in the company, valued at $3,387,525.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 22,100 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total transaction of $221,000.00. Following the completion of the transaction, the chief financial officer now owns 497,329 shares of the company’s stock, valued at $4,973,290. The disclosure for this sale can be found here. Insiders have sold 226,554 shares of company stock valued at $2,154,152 in the last quarter. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after purchasing an additional 2,077 shares during the period. Aigen Investment Management LP boosted its holdings in shares of Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Alignment Healthcare by 18.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after purchasing an additional 4,862 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.