Alignment Healthcare's (ALHC) "Overweight" Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of Alignment Healthcare (NASDAQ:ALHC - Free Report) in a research note published on Thursday,Benzinga reports. They currently have a $17.00 price objective on the stock.

ALHC has been the topic of a number of other reports. KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a "sector weight" rating on the stock. UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.44.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded up $0.31 during trading on Thursday, hitting $11.56. 1,714,616 shares of the company's stock traded hands, compared to its average volume of 1,186,850. Alignment Healthcare has a twelve month low of $4.46 and a twelve month 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 company has a market cap of $2.22 billion, a PE ratio of -15.01 and a beta of 1.42. The firm's fifty day moving average price is $11.90 and its 200 day moving average price is $10.35.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting 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 company had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same quarter last year, the business posted ($0.19) earnings per share. The company's revenue was up 51.6% on a year-over-year basis. Analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total value of $323,100.00. Following the completion of the sale, the insider now owns 1,726,097 shares of the company's stock, valued at approximately $18,590,064.69. This represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hyong Kim sold 22,460 shares of the business's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total transaction of $247,733.80. Following the transaction, the insider now owns 533,070 shares in the company, valued at approximately $5,879,762.10. The trade was a 4.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 631,504 shares of company stock worth $7,639,287. 6.60% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of ALHC. nVerses Capital LLC bought a new position in Alignment Healthcare in the 3rd quarter valued at about $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare during the 3rd quarter worth approximately $131,000. Creative Planning increased its position in Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company's stock worth $147,000 after buying an additional 2,072 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock worth $106,000 after buying an additional 2,077 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Alignment Healthcare in the third quarter valued at about $315,000. 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.