Analysts Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $10.33

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) has received an average rating of "Moderate Buy" from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.33.

ALHC has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Barclays increased their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Wednesday, October 30th. KeyCorp initiated coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a "sector weight" rating for the company. TD Cowen increased their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, August 6th. Finally, UBS Group boosted 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.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares of the company's stock, valued at $16,136,987.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the sale, the chief executive officer now directly owns 2,543,100 shares of the company's stock, valued at approximately $28,813,323. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the transaction, the insider now directly owns 1,789,023 shares of the company's stock, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 379,287 shares of company stock valued at $4,290,810 over the last 90 days. Company insiders own 6.60% of the company's stock.

Institutional Trading of Alignment Healthcare

Several hedge funds have recently modified their holdings of ALHC. Creative Planning increased its position in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company's stock worth $147,000 after purchasing an additional 2,072 shares during the last quarter. Principal Financial Group Inc. raised its position in Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock valued at $106,000 after purchasing an additional 2,077 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 valued at $196,000 after buying an additional 3,334 shares during the period. nVerses Capital LLC purchased a new stake in Alignment Healthcare in the third quarter worth about $95,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company's stock worth $434,000 after purchasing an additional 9,595 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock traded down $0.11 during trading hours on Friday, reaching $13.67. The company had a trading volume of 1,156,401 shares, compared to its average volume of 1,240,897. The firm has a market cap of $2.62 billion, a PE ratio of -17.75 and a beta of 1.45. Alignment Healthcare has a one year low of $4.46 and a one year high of $14.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $9.14.

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

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.