Stephens Boosts Alignment Healthcare (NASDAQ:ALHC) Price Target to $7.00

Alignment Healthcare (NASDAQ:ALHC) had its target price raised by Stephens from $6.00 to $7.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts have also issued reports on ALHC. Barclays began coverage on shares of Alignment Healthcare in a report on Wednesday, March 6th. They issued an underweight rating and a $4.50 price objective on the stock. William Blair reaffirmed an outperform rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Raymond James lifted their target price on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a strong-buy rating in a report on Tuesday, January 9th. UBS Group decreased their price target on Alignment Healthcare from $9.00 to $8.50 and set a neutral rating on the stock in a research note on Wednesday, February 28th. Finally, Piper Sandler reaffirmed a neutral rating and issued a $6.00 price objective (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $8.47.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $6.63 on Friday. The firm has a 50 day simple moving average of $5.12 and a 200-day simple moving average of $6.53. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -7.89 and a beta of 1.23. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $628.60 million during the quarter, compared to analyst estimates of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 84.43%. The company’s revenue was up 43.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) earnings per share. On average, analysts expect that Alignment Healthcare will post -0.6 EPS for the current year.

Insiders Place Their Bets

In related news, insider Dawn Christine Maroney sold 15,861 shares of Alignment Healthcare stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $80,098.05. Following the completion of the transaction, the insider now directly owns 1,999,500 shares in the company, valued at $10,097,475. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Dawn Christine Maroney sold 15,861 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $80,098.05. Following the sale, the insider now directly owns 1,999,500 shares in the company, valued at $10,097,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Thomas Freeman sold 11,858 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the completion of the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at approximately $4,392,334.92. The disclosure for this sale can be found here. Insiders sold a total of 90,213 shares of company stock worth $460,587 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently modified their holdings of ALHC. Teza Capital Management LLC purchased a new position in Alignment Healthcare in the third quarter valued at $109,000. Panagora Asset Management Inc. boosted its position in shares of Alignment Healthcare by 16.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock worth $2,400,000 after acquiring an additional 49,716 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at about $641,000. Mackenzie Financial Corp raised its position in shares of Alignment Healthcare by 38.1% during the 3rd quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock worth $218,000 after acquiring an additional 8,577 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Alignment Healthcare by 9.4% during the third quarter. Assenagon Asset Management S.A. now owns 543,197 shares of the company’s stock worth $3,770,000 after purchasing an additional 46,747 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.