Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Rating of "Moderate Buy" by Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twelve research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $11.44.

Several research analysts have recently commented on the company. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a "sector weight" rating on the stock. Robert W. Baird boosted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 14th. Stephens upgraded Alignment Healthcare from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $13.00 to $17.00 in a research note on Tuesday. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC traded down $0.32 during midday trading on Thursday, reaching $12.20. 1,253,050 shares of the company traded hands, compared to its average volume of 1,162,688. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $14.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock's 50-day simple moving average is $11.91 and its 200-day simple moving average is $9.89. The firm has a market cap of $2.34 billion, a PE ratio of -15.84 and a beta of 1.42.

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

Insiders Place Their Bets

In other news, Director Joseph S. Konowiecki sold 6,920 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $13.73, for a total value of $95,011.60. Following the completion of the transaction, the director now owns 1,134,888 shares of the company's stock, valued at $15,582,012.24. The trade was a 0.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hakan Kardes sold 35,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total value of $448,000.00. Following the transaction, the insider now owns 320,444 shares in the company, valued at approximately $4,101,683.20. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 540,483 shares of company stock valued at $6,513,528. Company insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company's stock valued at $45,828,000 after acquiring an additional 93,262 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings 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 purchasing an additional 2,630,788 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 worth $2,991,000 after buying an additional 82,559 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock worth $2,294,000 after buying an additional 180,522 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in Alignment Healthcare in the 3rd quarter valued at approximately $961,000. Institutional investors and hedge funds own 86.19% of the company's stock.

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.