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

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.83.

A number of analysts recently issued reports on the company. Bank of America lifted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Piper Sandler lifted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th.

Insider Transactions at Alignment Healthcare

In related news, insider Robert L. Scavo sold 5,313 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $15.43, for a total transaction of $81,979.59. Following the completion of the transaction, the insider now owns 668,106 shares of the company’s stock, valued at approximately $10,308,875.58. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 554,713 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the transaction, the chief executive officer now directly owns 4,733,664 shares of the company’s stock, valued at $73,513,801.92. This represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,901,665 shares of company stock worth $29,141,513. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in Alignment Healthcare during the 4th quarter valued at $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at $106,000. Tower Research Capital LLC TRC raised its stake in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after purchasing an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare in the 3rd quarter valued at $131,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Trading Up 2.7 %

Shares of NASDAQ:ALHC opened at $17.19 on Friday. The firm has a fifty day moving average of $14.68 and a two-hundred day moving average of $12.59. The firm has a market capitalization of $3.30 billion, a P/E ratio of -22.32 and a beta of 1.49. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $17.27. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

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.