Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.63.

ALHC has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of Alignment Healthcare from $12.00 to $10.00 in a report on Friday, July 7th. Morgan Stanley decreased their price target on Alignment Healthcare from $19.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, August 30th.

Alignment Healthcare Price Performance

ALHC opened at $6.25 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.76. Alignment Healthcare has a 1 year low of $4.88 and a 1 year high of $13.92. The stock has a fifty day moving average price of $5.94 and a 200 day moving average price of $6.23. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -7.10 and a beta of 1.62.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. Alignment Healthcare had a negative return on equity of 68.85% and a negative net margin of 10.03%. The business had revenue of $462.38 million during the quarter, compared to analysts’ expectations of $436.88 million. Analysts forecast that Alignment Healthcare will post -0.76 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,474 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $5.20, for a total value of $80,464.80. Following the sale, the insider now owns 267,834 shares of the company’s stock, valued at approximately $1,392,736.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System raised its position in shares of Alignment Healthcare by 3.8% during the fourth quarter. Arizona State Retirement System now owns 23,778 shares of the company’s stock valued at $280,000 after buying an additional 879 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 7.7% in the 1st quarter. Principal Financial Group Inc. now owns 14,524 shares of the company’s stock valued at $163,000 after acquiring an additional 1,034 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Alignment Healthcare by 1.5% in the 4th quarter. Legal & General Group Plc now owns 71,676 shares of the company’s stock worth $843,000 after acquiring an additional 1,066 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Alignment Healthcare by 5.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,579 shares of the company’s stock worth $372,000 after purchasing an additional 1,658 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of Alignment Healthcare by 0.5% during the 1st quarter. Panagora Asset Management Inc. now owns 340,034 shares of the company’s stock worth $2,163,000 after purchasing an additional 1,766 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, Nevada, Arizona, Florida, and Texas.