Alignment Healthcare (NASDAQ:ALHC) Rating Lowered to “Hold” at Zacks Research

by · The Cerbat Gem

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also issued reports on ALHC. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a report on Thursday, May 7th. Barclays decreased their price objective on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Finally, UBS Group increased their target price on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Read Our Latest Research Report on ALHC

Alignment Healthcare Stock Performance

Shares of ALHC opened at $24.05 on Monday. The stock has a 50-day moving average of $19.15 and a 200-day moving average of $19.79. Alignment Healthcare has a one year low of $11.63 and a one year high of $25.12. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market cap of $4.97 billion, a PE ratio of 267.22, a P/E/G ratio of 3.32 and a beta of 1.05.

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. Alignment Healthcare’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, equities research analysts predict that Alignment Healthcare will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $20.87, for a total value of $626,100.00. Following the completion of the transaction, the president owned 1,028,813 shares in the company, valued at $21,471,327.31. This trade represents a 2.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total value of $600,000.00. Following the sale, the executive vice president owned 1,103,816 shares in the company, valued at approximately $26,491,584. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,069,951 shares of company stock valued at $20,846,518 in the last quarter. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP purchased a new position in Alignment Healthcare during the third quarter worth about $4,581,000. 1492 Capital Management LLC raised its stake in Alignment Healthcare by 61.8% in the fourth quarter. 1492 Capital Management LLC now owns 324,865 shares of the company’s stock valued at $6,416,000 after purchasing an additional 124,143 shares in the last quarter. Cinctive Capital Management LP bought a new position in Alignment Healthcare in the third quarter valued at $3,814,000. Danica Pension Livsforsikringsaktieselskab bought a new stake in Alignment Healthcare in the 4th quarter worth approximately $39,500,000. Finally, SG Americas Securities LLC boosted its stake in Alignment Healthcare by 148.5% in the fourth quarter. SG Americas Securities LLC now owns 60,390 shares of the company’s stock worth $1,193,000 after buying an additional 36,084 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

(Get Free Report)

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

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