Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $23.00 at JPMorgan Chase & Co.

Alignment Healthcare (NASDAQ:ALHC) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $20.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.03% from the stock’s current price.

A number of other research firms have also weighed in on ALHC. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a report on Monday, November 24th. Zacks Research cut shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, October 8th. Finally, UBS Group lifted their target price on shares of Alignment Healthcare from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.35.

Alignment Healthcare Price Performance

NASDAQ ALHC traded up $0.50 during trading hours on Wednesday, hitting $20.53. 1,002,049 shares of the company’s stock traded hands, compared to its average volume of 3,029,211. The company has a market capitalization of $4.11 billion, a PE ratio of -171.06 and a beta of 1.16. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. Alignment Healthcare has a 52-week low of $10.18 and a 52-week high of $21.06. The firm’s 50-day moving average is $17.77 and its 200-day moving average is $15.91.

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

Insider Transactions at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 113,319 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $20.01, for a total value of $2,267,513.19. Following the sale, the president owned 1,667,237 shares in the company, valued at approximately $33,361,412.37. The trade was a 6.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hyong Kim sold 51,379 shares of the firm’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $17.57, for a total value of $902,729.03. Following the transaction, the insider owned 362,333 shares of the company’s stock, valued at $6,366,190.81. This trade represents a 12.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 842,157 shares of company stock worth $15,187,475. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC purchased a new position in shares of Alignment Healthcare in the third quarter valued at approximately $33,000. SBI Securities Co. Ltd. boosted its position in Alignment Healthcare by 4,868.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock valued at $42,000 after buying an additional 2,970 shares during the period. KBC Group NV acquired a new position in shares of Alignment Healthcare in the second quarter worth $44,000. Signaturefd LLC grew its stake in shares of Alignment Healthcare by 142.6% in the second quarter. Signaturefd LLC now owns 3,768 shares of the company’s stock worth $53,000 after acquiring an additional 2,215 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Alignment Healthcare during the third quarter worth $53,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.