Barclays Boosts Alignment Healthcare (NASDAQ:ALHC) Price Target to $8.00

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) had its price target lifted by equities research analysts at Barclays from $7.00 to $8.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's price objective indicates a potential downside of 30.13% from the company's previous close.

Several other research analysts also recently commented on the stock. Robert W. Baird lifted their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 14th. Stifel Nicolaus raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. UBS Group upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday. TD Cowen boosted their target price on Alignment Healthcare to $10.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, KeyCorp assumed coverage on Alignment Healthcare in a research note on Friday, October 11th. They issued a "sector weight" rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.33.

Alignment Healthcare Trading Down 2.2 %

Shares of Alignment Healthcare stock traded down $0.26 during trading on Wednesday, reaching $11.45. The company's stock had a trading volume of 294,600 shares, compared to its average volume of 1,010,727. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.36. The firm's 50-day moving average is $10.62 and its two-hundred day moving average is $8.69. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -13.76 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company's quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share. On average, sell-side analysts anticipate that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction dated Wednesday, October 9th. The shares were 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 $28,813,323. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the completion of the sale, the insider now owns 1,796,097 shares in the company, valued at $15,626,043.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 314,940 shares of company stock valued at $3,487,014. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the third quarter worth approximately $95,000. Virtu Financial LLC purchased a new stake in Alignment Healthcare during the 1st quarter valued at $57,000. Principal Financial Group Inc. purchased a new stake in Alignment Healthcare during the 1st quarter valued at $57,000. Creative Planning increased its holdings in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company's stock worth $147,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock worth $286,000 after purchasing an additional 19,129 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.

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