Stifel Nicolaus Increases Alignment Healthcare (NASDAQ:ALHC) Price Target to $23.00

Alignment Healthcare (NASDAQ:ALHC) had its price target increased by Stifel Nicolaus from $18.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Piper Sandler upped their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Barclays boosted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. Finally, Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.39.

Alignment Healthcare Stock Up 6.3 %

Shares of NASDAQ ALHC opened at $18.95 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a 50-day moving average of $15.83 and a 200 day moving average of $13.38. Alignment Healthcare has a 12-month low of $4.62 and a 12-month high of $21.06. The stock has a market cap of $3.64 billion, a PE ratio of -24.61 and a beta of 1.32.

Insider Activity

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 250,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $15.58, for a total transaction of $3,895,000.00. Following the sale, the chief financial officer now directly owns 1,635,849 shares in the company, valued at $25,486,527.42. This represents a 13.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sebastian Burzacchi sold 6,694 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total transaction of $109,781.60. Following the sale, the chief operating officer now directly owns 250,378 shares in the company, valued at $4,106,199.20. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,981,855 shares of company stock valued at $30,590,612. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALHC. Charles Schwab Investment Management Inc. boosted its position in Alignment Healthcare by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after buying an additional 13,865 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares during the period. State Street Corp increased its holdings in Alignment Healthcare by 0.9% during the 3rd quarter. State Street Corp now owns 2,252,287 shares of the company’s stock worth $26,622,000 after purchasing an additional 20,731 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Alignment Healthcare in the 3rd quarter valued at about $523,000. Finally, Barclays PLC boosted its stake in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after buying an additional 114,191 shares during the period. Institutional investors and hedge funds 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.