Alignment Healthcare (NASDAQ:ALHC) Given New $8.00 Price Target at Barclays

Alignment Healthcare (NASDAQ:ALHC) had its price target lifted by Barclays from $7.00 to $8.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. UBS Group raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday. KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. TD Cowen increased their price target on shares of Alignment Healthcare to $10.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird increased their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.33.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $11.73 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. The stock’s fifty day simple moving average is $10.67 and its two-hundred day simple moving average is $8.71. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $12.36. The stock has a market cap of $2.24 billion, a PE ratio of -15.23 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) earnings per share. As a group, analysts forecast that Alignment Healthcare will post -0.67 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the transaction, the chief financial officer now directly owns 399,429 shares in the company, valued at approximately $3,998,284.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Robert Thomas Freeman sold 8,561 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the sale, the chief financial officer now directly owns 399,429 shares in the company, valued at $3,998,284.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,940 shares of company stock valued at $3,487,014 over the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Alignment Healthcare in the first quarter worth approximately $57,000. Blue Trust Inc. increased its position in shares of Alignment Healthcare by 47.4% in the first quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock worth $1,272,000 after purchasing an additional 82,476 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after purchasing an additional 93,262 shares during the last quarter. Finally, Hood River Capital Management LLC increased its position in shares of Alignment Healthcare by 49.6% in the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after purchasing an additional 968,637 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.