Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have received an average rating of "Moderate Buy" from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $11.44.

ALHC has been the subject of several recent research reports. KeyCorp began coverage on Alignment Healthcare in a report on Friday, October 11th. They set a "sector weight" rating for the company. Stephens upgraded shares of Alignment Healthcare from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $13.00 to $17.00 in a research note on Tuesday, December 3rd. Barclays raised their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Wednesday, October 30th. Finally, UBS Group upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th.

Alignment Healthcare Stock Up 3.1 %

Shares of ALHC traded up $0.34 during trading hours on Monday, reaching $11.16. The stock had a trading volume of 1,387,954 shares, compared to its average volume of 1,184,525. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -14.49 and a beta of 1.42. The firm has a 50-day simple moving average of $11.87 and a 200 day simple moving average of $10.31. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $14.25.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.14). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company's quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) EPS. Equities research analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In related news, insider Hakan Kardes sold 4,500 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $12.98, for a total value of $58,410.00. Following the sale, the insider now directly owns 375,944 shares in the company, valued at approximately $4,879,753.12. The trade was a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total transaction of $323,100.00. Following the transaction, the insider now owns 1,726,097 shares of the company's stock, valued at $18,590,064.69. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 653,546 shares of company stock worth $7,875,008 in the last quarter. Insiders own 6.60% of the company's stock.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently modified their holdings of the business. Verition Fund Management LLC raised its stake in shares of Alignment Healthcare by 85.3% during the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company's stock valued at $1,432,000 after purchasing an additional 55,771 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Alignment Healthcare by 132.2% during the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company's stock valued at $1,524,000 after buying an additional 73,402 shares during the period. Barclays PLC lifted its holdings in shares of Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after buying an additional 114,191 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company's stock valued at $85,250,000 after acquiring an additional 2,630,788 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company's stock valued at $2,991,000 after acquiring an additional 82,559 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.