Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $11.88 Consensus Target Price from Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $11.88.

Several analysts have weighed in on ALHC shares. Barclays lifted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 30th. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a "sector weight" rating on the stock. UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Stephens reissued an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Thursday, January 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC traded up $0.40 during mid-day trading on Friday, reaching $14.97. 2,062,404 shares of the company were exchanged, compared to its average volume of 1,865,421. The company's 50-day simple moving average is $12.06 and its 200-day simple moving average is $10.94. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $2.87 billion, a P/E ratio of -19.44 and a beta of 1.45. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $15.05.

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

Insiders Place Their Bets

In other news, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $13.42, for a total value of $1,207,800.00. Following the completion of the sale, the chief executive officer now owns 2,453,100 shares in the company, valued at $32,920,602. This represents a 3.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the completion of the sale, the president now owns 1,606,097 shares of the company's stock, valued at approximately $21,858,980.17. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 549,724 shares of company stock worth $6,965,685. Insiders own 6.60% of the company's stock.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C grew its position in Alignment Healthcare by 31.8% during 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 buying an additional 2,630,788 shares during the period. Geode Capital Management LLC grew its position in Alignment Healthcare by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company's stock valued at $28,875,000 after buying an additional 32,839 shares during the period. State Street Corp grew its position in Alignment Healthcare by 0.9% during the third quarter. State Street Corp now owns 2,252,287 shares of the company's stock valued at $26,622,000 after buying an additional 20,731 shares during the period. Charles Schwab Investment Management Inc. grew its position in Alignment Healthcare by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company's stock valued at $9,925,000 after buying an additional 13,865 shares during the period. Finally, Royce & Associates LP bought a new position in Alignment Healthcare during the third quarter valued at about $3,782,000. Institutional investors 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.