Alignment Healthcare (NASDAQ:ALHC) Given New $9.00 Price Target at Stifel Nicolaus

Alignment Healthcare (NASDAQ:ALHC) had its target price lowered by equities researchers at Stifel Nicolaus from $11.00 to $9.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 75.10% from the stock’s current price.

Other equities analysts have also issued reports about the company. UBS Group dropped their price target on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Stephens boosted their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Raymond James boosted their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. Finally, Barclays assumed coverage on Alignment Healthcare in a report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare presently has an average rating of “Hold” and a consensus target price of $9.18.

Alignment Healthcare Trading Up 2.6 %

Shares of Alignment Healthcare stock traded up $0.13 during midday trading on Tuesday, reaching $5.14. The company had a trading volume of 445,474 shares, compared to its average volume of 871,783. The stock has a fifty day moving average price of $5.33 and a 200 day moving average price of $6.65. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $971.36 million, a PE ratio of -6.47 and a beta of 1.30. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The business had revenue of $465.39 million during the quarter, compared to analyst estimates of $444.56 million. During the same period last year, the firm posted ($0.31) earnings per share. Alignment Healthcare’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, equities analysts anticipate that Alignment Healthcare will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, CEO John E. Kao purchased 103,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $4.82 per share, with a total value of $496,460.00. Following the transaction, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO John E. Kao purchased 103,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $4.82 per share, with a total value of $496,460.00. Following the transaction, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dawn Christine Maroney sold 15,861 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $80,098.05. Following the sale, the insider now directly owns 1,999,500 shares in the company, valued at approximately $10,097,475. The disclosure for this sale can be found here. Insiders sold 90,213 shares of company stock worth $460,587 in the last quarter. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after buying an additional 322,661 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Alignment Healthcare by 49.1% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock valued at $19,064,000 after acquiring an additional 905,015 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Alignment Healthcare by 39.7% during the 3rd quarter. William Blair Investment Management LLC now owns 1,913,459 shares of the company’s stock valued at $13,279,000 after acquiring an additional 544,196 shares during the last quarter. Rhenman & Partners Asset Management AB boosted its position in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 1,200,000 shares of the company’s stock valued at $8,328,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after acquiring an additional 10,123 shares during the last quarter. Hedge funds and other 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.