JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare (NASDAQ:ALHC) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $14.00 to $17.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 10.07% from the company’s previous close.

Other analysts have also recently issued reports about the company. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Stock Down 2.3 %

NASDAQ ALHC traded down $0.37 on Thursday, hitting $15.45. 524,667 shares of the stock were exchanged, compared to its average volume of 1,991,595. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $16.25. The company has a 50-day moving average price of $13.80 and a 200-day moving average price of $12.12. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market cap of $2.96 billion, a PE ratio of -20.06 and a beta of 1.50.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,273,100 shares of the company’s stock, valued at $29,686,686. This trade represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Sebastian Burzacchi sold 8,550 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the transaction, the chief operating officer now directly owns 217,395 shares in the company, valued at $2,447,867.70. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 378,428 shares of company stock worth $5,009,324 over the last ninety days. 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 bought and sold shares of the business. Verition Fund Management LLC increased its holdings in shares of Alignment Healthcare by 85.3% in the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after purchasing an additional 55,771 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after buying 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% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring 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 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after acquiring an additional 73,402 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after acquiring an additional 114,191 shares during the period. 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.