Stifel Nicolaus Increases Alignment Healthcare (NASDAQ:ALHC) Price Target to $16.00

Alignment Healthcare (NASDAQ:ALHC - Free Report) had its price target boosted by Stifel Nicolaus from $14.00 to $16.00 in a research report released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

ALHC has been the subject of a number of other reports. Barclays upped their price objective 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. KeyCorp began coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a "sector weight" rating on the stock. Stephens restated an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 2nd. Finally, UBS Group raised their price objective 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.88.

Alignment Healthcare Stock Up 0.1 %

Shares of NASDAQ ALHC traded up $0.01 on Tuesday, hitting $13.51. The company had a trading volume of 1,717,978 shares, compared to its average volume of 1,759,085. The company has a quick ratio of 1.60, a current 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. The firm has a market capitalization of $2.59 billion, a P/E ratio of -17.55 and a beta of 1.45. The business has a 50 day moving average of $11.91 and a two-hundred day moving average of $10.66.

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 for the quarter, hitting analysts' consensus estimates of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to analysts' expectations of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare's quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) EPS. As a group, equities research analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.42, for a total transaction of $1,207,800.00. Following the sale, the chief executive officer now owns 2,453,100 shares of the company's stock, valued at approximately $32,920,602. The trade was a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Thomas Freeman sold 36,197 shares of the business's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.04, for a total value of $435,811.88. Following the transaction, the chief financial officer now owns 123,429 shares of the company's stock, valued at $1,486,085.16. This trade represents a 22.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 509,224 shares of company stock worth $6,399,990 over the last quarter. 6.60% of the stock is owned by company insiders.

Institutional Trading of Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in Alignment Healthcare by 13.3% in the second quarter. Rhumbline Advisers now owns 137,296 shares of the company's stock worth $1,074,000 after acquiring an additional 16,083 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company's stock worth $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company's stock worth $24,294,000 after purchasing an additional 185,854 shares in the last quarter. AQR Capital Management LLC bought a new stake in Alignment Healthcare during the second quarter worth approximately $1,512,000. Finally, Deerfield Management Company L.P. Series C grew its position in 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 worth $85,250,000 after buying an additional 2,630,788 shares during the last quarter. 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.