Analysts Set Alignment Healthcare, Inc. (NASDAQ:ALHC) PT at $15.39

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

A number of analysts have recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Bank of America upped their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Barclays raised their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th.

Insider Activity at Alignment Healthcare

In other news, insider Robert L. Scavo sold 2,864 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $17.89, for a total transaction of $51,236.96. Following the completion of the sale, the insider now owns 702,953 shares of the company’s stock, valued at $12,575,829.17. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the transaction, the chief executive officer now owns 2,273,100 shares of the company’s stock, valued at approximately $29,686,686. This trade represents a 3.81 % decrease in their position. 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. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. Wellington Management Group LLP lifted its position in shares of Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Millennium Management LLC lifted its holdings in Alignment Healthcare by 588.3% in the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock valued at $38,122,000 after purchasing an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Alignment Healthcare during the 4th quarter worth $20,087,000. Finally, Broad Bay Capital Management LP acquired a new stake in Alignment Healthcare during the 4th quarter worth $18,804,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

ALHC opened at $19.74 on Wednesday. Alignment Healthcare has a 12-month low of $4.66 and a 12-month high of $21.06. 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 firm has a market capitalization of $3.79 billion, a PE ratio of -25.64 and a beta of 1.32. The firm has a 50 day moving average of $16.14 and a two-hundred day moving average of $13.59.

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.