Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $14.83 Average Price Target from Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned an average rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.83.

ALHC has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Barclays raised their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th.

Alignment Healthcare Trading Up 2.5 %

Shares of ALHC opened at $17.61 on Friday. The stock has a market capitalization of $3.38 billion, a PE ratio of -22.87 and a beta of 1.49. The company’s fifty day moving average is $14.90 and its 200 day moving average is $12.69. 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 fifty-two week low of $4.46 and a fifty-two week high of $17.76.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 27,535 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total value of $465,066.15. Following the transaction, the chief executive officer now directly owns 4,991,717 shares in the company, valued at $84,310,100.13. This represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total transaction 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 represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,901,665 shares of company stock worth $29,141,513 over the last quarter. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in ALHC. Verition Fund Management LLC lifted its stake in Alignment Healthcare by 85.3% in the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after acquiring an additional 55,771 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Alignment Healthcare by 249.3% in the 3rd 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. lifted its position in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after purchasing an additional 180,522 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Alignment Healthcare by 132.2% during 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 in the last quarter. Finally, Barclays PLC boosted its stake in shares of Alignment Healthcare by 144.1% during the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares in the last quarter. Institutional investors 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.