Alignment Healthcare (NASDAQ:ALHC) Stock Bumped Up to “Hold” by UBS Group

UBS Group upgraded shares of Alignment Healthcare (NASDAQ:ALHC) to a hold rating in a research note published on Monday,Zacks reports.

ALHC has been the subject of a number of other research reports. Barclays cut their price objective on shares of Alignment Healthcare from $16.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. William Blair downgraded Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Friday. Weiss Ratings cut Alignment Healthcare from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Alignment Healthcare from $22.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Finally, TD Cowen reduced their target price on shares of Alignment Healthcare from $21.00 to $12.00 and set a “buy” rating for the company in a report on Monday. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.82.

Alignment Healthcare Trading Up 2.6%

Shares of NASDAQ:ALHC opened at $8.30 on Monday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 43.69 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s 50-day simple moving average is $11.26 and its two-hundred day simple moving average is $16.50. Alignment Healthcare has a 52-week low of $6.01 and a 52-week high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. Analysts expect that Alignment Healthcare will post 0.14 EPS for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 385,270 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $12.68, for a total transaction of $4,885,223.60. Following the completion of the transaction, the chief executive officer owned 1,223,473 shares of the company’s stock, valued at $15,513,637.64. This represents a 23.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total transaction of $269,575.70. Following the transaction, the insider directly owned 299,271 shares of the company’s stock, valued at $2,483,949.30. This trade represents a 9.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 1,061,967 shares of company stock valued at $13,642,490. Insiders own 5.20% of the company’s stock.

Institutional Trading of Alignment Healthcare

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Alignment Healthcare by 9.8% during the 2nd quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company’s stock valued at $447,160,000 after acquiring an additional 1,681,427 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Alignment Healthcare in the second quarter worth $184,799,000. Danica Pension Livsforsikringsaktieselskab bought a new stake in Alignment Healthcare in the second quarter worth $87,794,000. Bank of New York Mellon Corp purchased a new stake in Alignment Healthcare during the second quarter valued at $87,077,000. Finally, Bank of America Corp DE raised its stake in Alignment Healthcare by 156.5% during the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after purchasing an additional 1,961,778 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.