Alignment Healthcare (NASDAQ:ALHC) Cut to “Sell” at Zacks Investment Research

Alignment Healthcare (NASDAQ:ALHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Alignment Healthcare Inc. is a consumer-centric platform delivering customized health care in the United States to seniors and those who need it most, the chronically ill and frail, through its Medicare Advantage plans. Alignment Healthcare Inc. is based in ORANGE, Calif. “

ALHC has been the topic of several other reports. Morgan Stanley assumed coverage on shares of Alignment Healthcare in a report on Tuesday, April 20th. They issued an “overweight” rating and a $36.00 price objective on the stock. Piper Sandler assumed coverage on shares of Alignment Healthcare in a report on Tuesday, April 20th. They issued an “overweight” rating and a $30.00 price objective on the stock. Raymond James boosted their price objective on shares of Alignment Healthcare from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 18th. The Goldman Sachs Group initiated coverage on shares of Alignment Healthcare in a research note on Tuesday, April 20th. They set a “neutral” rating and a $25.00 price target on the stock. Finally, UBS Group initiated coverage on shares of Alignment Healthcare in a research note on Tuesday, April 20th. They set a “neutral” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $30.67.

Shares of ALHC stock opened at $26.41 on Tuesday. The firm’s 50-day moving average price is $24.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.56 and a current ratio of 3.56. Alignment Healthcare has a twelve month low of $16.32 and a twelve month high of $28.59.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Sunday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.16). The company had revenue of $267.08 million for the quarter, compared to analysts’ expectations of $249.70 million. As a group, analysts forecast that Alignment Healthcare will post -0.66 earnings per share for the current year.

In other news, insider Michael Curtis Foster sold 50,843 shares of the business’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $16.83, for a total transaction of $855,687.69. Following the completion of the transaction, the insider now directly owns 1,132,692 shares of the company’s stock, valued at $19,063,206.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 38,919 shares of the business’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $16.83, for a total value of $655,006.77. Following the transaction, the chief financial officer now directly owns 223,347 shares of the company’s stock, valued at $3,758,930.01. The disclosure for this sale can be found here. Insiders have sold 806,386 shares of company stock worth $13,571,476 over the last quarter.

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada acquired a new position in shares of Alignment Healthcare during the first quarter worth about $66,000. Rokos Capital Management LLP acquired a new position in Alignment Healthcare in the first quarter valued at approximately $107,000. Teacher Retirement System of Texas acquired a new position in Alignment Healthcare in the first quarter valued at approximately $219,000. Sei Investments Co. acquired a new position in Alignment Healthcare in the first quarter valued at approximately $314,000. Finally, Stifel Financial Corp acquired a new position in Alignment Healthcare in the first quarter valued at approximately $474,000. 77.53% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare

Alignment Healthcare, Inc provides a consumer-centric platform that delivers customized health care to seniors in the United States. It offers medicare advantage plans and health plan options to its partners and patients with customized care and service; and preferred provider organization offerings.

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