Alignment Healthcare’s (ALHC) “Overweight” Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of Alignment Healthcare (NASDAQ:ALHC) in a report published on Monday,Benzinga reports. They currently have a $17.00 target price on the stock.

ALHC has been the topic of several other reports. Barclays boosted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. UBS Group raised their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Stock Down 1.7 %

Shares of NASDAQ:ALHC opened at $13.16 on Monday. The stock has a 50-day simple moving average of $13.34 and a 200-day simple moving average of $11.88. The stock has a market capitalization of $2.52 billion, a P/E ratio of -17.09 and a beta of 1.50. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $15.82. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Insider Activity

In other news, insider Hyong Kim sold 62,574 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $12.20, for a total transaction of $763,402.80. Following the transaction, the insider now directly owns 470,496 shares of the company’s stock, valued at approximately $5,740,051.20. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the completion of the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at $2,888,726.30. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 441,002 shares of company stock valued at $5,772,726. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of ALHC. Verition Fund Management LLC raised its holdings in shares of Alignment Healthcare by 85.3% during the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after acquiring an additional 55,771 shares during the period. JPMorgan Chase & Co. grew its position in Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after purchasing an additional 205,705 shares in the last quarter. Principal Financial Group Inc. increased its stake in Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after buying an additional 180,522 shares during the period. The Manufacturers Life Insurance Company lifted its position in Alignment Healthcare by 132.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after buying an additional 73,402 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Alignment Healthcare by 144.1% during 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. 86.19% of the stock is currently owned by institutional investors.

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.