Piper Sandler Boosts Alignment Healthcare (NASDAQ:ALHC) Price Target to $21.00

Alignment Healthcare (NASDAQ:ALHC) had its target price lifted by investment analysts at Piper Sandler from $14.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 36.28% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Stifel Nicolaus increased their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday. Barclays upped their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Bank of America raised their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus target price of $14.56.

Alignment Healthcare Price Performance

NASDAQ ALHC traded down $0.11 during trading hours on Tuesday, reaching $15.41. The company’s stock had a trading volume of 679,891 shares, compared to its average volume of 1,967,055. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company’s 50-day moving average is $13.60 and its two-hundred day moving average is $12.04. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -20.04 and a beta of 1.50. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $16.25.

Insider Activity

In related news, insider Hyong Kim sold 62,574 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $12.20, for a total transaction of $763,402.80. Following the completion of the transaction, the insider now owns 470,496 shares in the company, valued at approximately $5,740,051.20. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total value of $408,300.00. Following the sale, the president now directly owns 1,606,097 shares of the company’s stock, valued at $21,858,980.17. This trade represents a 1.83 % decrease in their ownership of the stock. 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $55,000. RiverPark Advisors LLC acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $106,000. Tower Research Capital LLC TRC raised its holdings in Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after purchasing an additional 6,286 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Alignment Healthcare in the 4th quarter valued at approximately $121,000. Finally, Aigen Investment Management LP purchased a new stake in Alignment Healthcare in the 4th quarter worth approximately $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.