UBS Group Issues Positive Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its price target boosted by UBS Group from $16.00 to $17.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Robert W. Baird lifted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, April 15th. Piper Sandler increased their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Bank of America boosted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Alignment Healthcare Stock Performance

ALHC opened at $15.53 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business has a fifty day simple moving average of $17.27 and a 200 day simple moving average of $14.28. Alignment Healthcare has a 1 year low of $5.62 and a 1 year high of $21.06. The company has a market capitalization of $3.07 billion, a PE ratio of -20.17 and a beta of 1.32.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company had revenue of $926.93 million during the quarter, compared to analysts’ expectations of $889.83 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. Alignment Healthcare’s quarterly revenue was up 47.5% on a year-over-year basis. Research analysts expect that Alignment Healthcare will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the sale, the president now directly owns 1,576,097 shares of the company’s stock, valued at approximately $21,624,050.84. The trade was a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,183,100 shares of the company’s stock, valued at approximately $31,065,513. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,181,855 shares of company stock valued at $35,166,057. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its position in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after buying an additional 3,059,596 shares during the period. Millennium Management LLC raised its holdings in Alignment Healthcare by 588.3% in the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock valued at $38,122,000 after buying an additional 2,896,311 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Alignment Healthcare during the 4th quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP acquired a new position in Alignment Healthcare in the 4th quarter valued at approximately $18,804,000. Institutional investors and hedge funds 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.