Shares of Alignment Healthcare, Inc. (NASDAQ: ALHC) have garnered a consensus rating of “Moderate Buy” from thirteen brokerages currently covering the company, according to MarketBeat.com. This assessment includes one sell recommendation, three hold ratings, eight buy ratings, and one strong buy recommendation. The average target price set by these brokerages for the next year is $20.35.
Recent reports from analysts provide insight into the stock’s performance. On November 8, 2023, Wall Street Zen upgraded Alignment Healthcare from a “hold” to a “buy” rating. Conversely, Zacks Research downgraded the stock from a “strong buy” to a “hold” on October 28, 2023. JPMorgan Chase & Co. raised its price target from $20.00 to $23.00 and assigned an “overweight” rating in a report on November 1, 2023. Additionally, Barclays adjusted its price objective up from $13.00 to $18.00 with an “equal weight” rating. The Goldman Sachs Group reaffirmed its “buy” rating while setting a price objective of $22.00 on November 3, 2023.
In its latest earnings report on October 30, 2023, Alignment Healthcare reported earnings of $0.02 per share, exceeding analysts’ consensus estimates of a loss of $0.01 by $0.03. The company recorded revenues of $993.70 million, surpassing expectations of $980.90 million, and demonstrated a remarkable year-over-year revenue increase of 43.5%. Despite these gains, the company reported a negative net margin of 0.57% and a negative return on equity of 16.23%.
Insider Trading Activity
Recently, director Joseph S. Konowiecki sold 25,000 shares at an average price of $19.00, totaling $475,000. Following this transaction, he holds 1,056,141 shares, valued at approximately $20,066,679, representing a 2.31% decrease in his ownership. This transaction was disclosed in a legal filing with the SEC.
On another note, COO Sebastian Burzacchi sold 12,585 shares at an average price of $19.26, amounting to around $242,387.10. After this sale, Burzacchi retains 237,793 shares, valued at about $4,579,893.18, marking a 5.03% decrease in his stake. Over the last quarter, company insiders sold a total of 842,157 shares, worth approximately $15,187,475. Currently, corporate insiders own around 7.00% of the stock.
Institutional Investment Trends
Institutional investors have recently adjusted their positions in Alignment Healthcare. Larson Financial Group LLC acquired a new stake worth approximately $33,000 during the third quarter. Wilmington Savings Fund Society FSB also established a new position valued at about $53,000. Notably, SBI Securities Co. Ltd. raised its stake by an impressive 4,868.9%, owning 3,031 shares worth around $42,000 after purchasing an additional 2,970 shares.
Moreover, KBC Group NV acquired a new stake valued at approximately $44,000 in the second quarter. PNC Financial Services Group Inc. significantly increased its stake by 205.6% in the third quarter, now holding 3,459 shares worth $60,000 after buying an additional 2,327 shares. Overall, institutional investors currently own 86.19% of Alignment Healthcare’s stock.
Founded in 2013 and based in Orange, California, Alignment Healthcare, Inc. is a tech-enabled Medicare Advantage company. It operates a consumer-centric healthcare platform designed to meet the diverse needs of seniors through its Medicare Advantage plans. As the company continues to evolve in the healthcare landscape, investor interest remains strong amid ongoing assessments from financial analysts.
