Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $7.00 at Barclays

Alignment Healthcare (NASDAQ:ALHC) had its price objective increased by Barclays from $4.50 to $7.00 in a research note released on Monday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts have also recently commented on ALHC. Piper Sandler upgraded Alignment Healthcare from a neutral rating to an overweight rating and increased their target price for the company from $6.00 to $8.00 in a report on Wednesday, May 8th. Bank of America raised Alignment Healthcare from a neutral rating to a buy rating and increased their price objective for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. Stephens boosted their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Baird R W raised shares of Alignment Healthcare to a strong-buy rating in a research note on Thursday, May 30th. Finally, Stifel Nicolaus boosted their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a buy rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $9.95.

Alignment Healthcare Price Performance

ALHC stock traded up $0.34 during midday trading on Monday, hitting $9.17. 678,497 shares of the stock were exchanged, compared to its average volume of 944,135. The stock’s 50-day moving average price is $8.34 and its 200-day moving average price is $6.76. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -11.10 and a beta of 1.43. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $10.16.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $681.29 million for the quarter, compared to analysts’ expectations of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 95.55%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) EPS. Research analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insider Transactions at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 38,858 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $388,968.58. Following the completion of the sale, the chief financial officer now owns 414,429 shares of the company’s stock, valued at approximately $4,148,434.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Dawn Christine Maroney sold 36,700 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $10.01, for a total transaction of $367,367.00. Following the sale, the insider now directly owns 1,816,097 shares in the company, valued at approximately $18,179,130.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 38,858 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $10.01, for a total value of $388,968.58. Following the completion of the transaction, the chief financial officer now owns 414,429 shares of the company’s stock, valued at approximately $4,148,434.29. The disclosure for this sale can be found here. Insiders sold a total of 225,221 shares of company stock worth $2,142,155 in the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Alignment Healthcare by 13.3% in the second quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock valued at $1,074,000 after purchasing an additional 16,083 shares during the period. Principal Financial Group Inc. lifted its holdings in Alignment Healthcare by 18.1% in the 2nd 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. Bank of New York Mellon Corp boosted its position in Alignment Healthcare by 27.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after buying an additional 82,559 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Alignment Healthcare during the first quarter valued at about $57,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alignment Healthcare during the first quarter valued at about $918,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.