Alignment Healthcare, Inc. (ALHC) – What Are Investment Firms Thinking About This Stock?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.00.

A number of analysts have weighed in on the stock. TD Cowen dropped their target price on shares of Alignment Healthcare from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. UBS Group decreased their price target on shares of Alignment Healthcare from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings lowered shares of Alignment Healthcare from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, October 30th. Finally, Scotiabank set a $9.00 target price on shares of Alignment Healthcare in a report on Friday, October 9th.

Insider Buying and Selling

In related news, CEO John E. Kao sold 27,400 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $13.00, for a total transaction of $356,200.00. Following the completion of the transaction, the chief executive officer owned 590,766 shares in the company, valued at $7,679,958. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 23,511 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $8.61, for a total value of $202,429.71. Following the transaction, the executive vice president owned 1,080,305 shares of the company’s stock, valued at approximately $9,301,426.05. The trade was a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 763,967 shares of company stock valued at $9,506,250 over the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Alignment Healthcare

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc grew its position in Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares during the last quarter. Nykredit A S bought a new stake in shares of Alignment Healthcare during the second quarter valued at approximately $36,000. Signature Equity Partners LLC bought a new stake in shares of Alignment Healthcare during the first quarter valued at approximately $46,000. GAMMA Investing LLC boosted its position in shares of Alignment Healthcare by 46.6% during the second quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock worth $80,000 after buying an additional 1,070 shares during the period. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of Alignment Healthcare during the second quarter worth approximately $149,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Trading Down 1.0%

Shares of NASDAQ ALHC opened at $7.27 on Thursday. The stock’s 50 day moving average price is $9.14 and its two-hundred day moving average price is $16.38. Alignment Healthcare has a 52-week low of $6.01 and a 52-week high of $25.12. The stock has a market capitalization of $1.52 billion, a P/E ratio of 55.93 and a beta of 1.07. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.17.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, October 29th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a return on equity of 12.46% and a net margin of 0.59%. The business’s revenue was up 36.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. On average, analysts anticipate that Alignment Healthcare will post -0.03 earnings per share for the current fiscal year.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled healthcare company focused primarily on serving older adults through Medicare Advantage plans. Its health plans, offered under the Alignment Health Plan name, combine insurance coverage with care coordination and support intended to address members’ medical and everyday health needs.

The company uses a care model that includes personalized care teams, member support and technology to help coordinate services across providers. Its Medicare Advantage offerings include plan options such as HMO and PPO products, with availability and benefits varying by location.

Founded in 2013, Alignment Healthcare was co-founded by John Kao, who serves as its chief executive officer.