Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $12.27, but opened at $12.86. Alignment Healthcare shares last traded at $12.83, with a volume of 8,562 shares.
Analyst Upgrades and Downgrades
ALHC has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. KeyCorp began coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Robert W. Baird lifted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. TD Cowen increased their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays raised their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.33.
Check Out Our Latest Stock Report on Alignment Healthcare
Alignment Healthcare Stock Performance
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. As a group, equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.
Insider Transactions at Alignment Healthcare
In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total transaction of $85,695.61. Following the completion of the sale, the chief financial officer now owns 399,429 shares of the company’s stock, valued at $3,998,284.29. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hakan Kardes sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $11.48, for a total value of $287,000.00. Following the completion of the transaction, the insider now directly owns 380,444 shares in the company, valued at approximately $4,367,497.12. The trade was a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,433 shares of company stock valued at $6,095,028 over the last quarter. Company insiders own 6.60% of the company’s stock.
Institutional Investors Weigh In On Alignment Healthcare
Several large investors have recently made changes to their positions in ALHC. Deerfield Management Company L.P. Series C raised its holdings in shares of Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. lifted 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 buying an additional 93,262 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 6.4% during the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after acquiring an additional 185,854 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after acquiring an additional 1,507,759 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock worth $28,875,000 after purchasing an additional 32,839 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.
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