Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $15.39

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $15.39.

Several research analysts have commented on ALHC shares. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stifel Nicolaus raised their price target on Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America upped their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. Finally, Barclays boosted their price target 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.

Insider Buying and Selling

In related news, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the transaction, the president now directly owns 1,606,097 shares in the company, valued at $21,858,980.17. The trade was a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at $29,686,686. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,981,855 shares of company stock worth $30,590,612 in the last 90 days. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Alignment Healthcare during the 4th quarter worth approximately $55,000. RiverPark Advisors LLC purchased a new stake in shares of Alignment Healthcare during the fourth quarter valued at $106,000. Tower Research Capital LLC TRC increased its position in shares of Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after acquiring an additional 6,286 shares during the period. Ballentine Partners LLC purchased a new position in Alignment Healthcare in the 4th quarter worth $121,000. Finally, Aigen Investment Management LP purchased a new position in Alignment Healthcare in the 4th quarter worth $129,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $19.74 on Wednesday. The firm’s 50 day simple moving average is $16.14 and its 200-day simple moving average is $13.59. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare has a one year low of $4.66 and a one year high of $21.06. The firm has a market cap of $3.79 billion, a PE ratio of -25.64 and a beta of 1.32.

About Alignment Healthcare

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.