Alignment Healthcare (NASDAQ:ALHC) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Alignment Healthcare (NASDAQ:ALHC) from a hold rating to a buy rating in a report published on Saturday morning.

ALHC has been the subject of a number of other research reports. KeyCorp restated an “overweight” rating and issued a $28.00 target price on shares of Alignment Healthcare in a research report on Thursday, January 22nd. Piper Sandler boosted their price objective on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. increased their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday. Barclays lifted their target price on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Finally, UBS Group raised their price objective on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.32.

Alignment Healthcare Stock Up 2.8%

Shares of NASDAQ:ALHC opened at $21.75 on Friday. The firm has a market capitalization of $4.35 billion, a PE ratio of -181.25, a price-to-earnings-growth ratio of 5.73 and a beta of 1.16. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61. Alignment Healthcare has a 52-week low of $11.63 and a 52-week high of $23.87. The firm has a fifty day moving average of $20.79 and a 200 day moving average of $17.80.

Insider Activity at Alignment Healthcare

In related news, insider Robert L. Scavo sold 69,541 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the transaction, the insider owned 503,014 shares in the company, valued at $9,426,482.36. The trade was a 12.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John E. Kao sold 180,000 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $21.11, for a total value of $3,799,800.00. Following the transaction, the chief executive officer directly owned 2,832,641 shares of the company’s stock, valued at $59,797,051.51. The trade was a 5.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,103,532 shares of company stock valued at $40,529,538 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALHC. Vanguard Group Inc. boosted its stake in shares of Alignment Healthcare by 10.9% during the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock valued at $305,983,000 after purchasing an additional 1,524,218 shares in the last quarter. Wellington Management Group LLP boosted its position in Alignment Healthcare by 167.3% during the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after acquiring an additional 6,940,277 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Alignment Healthcare by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 5,517,336 shares of the company’s stock worth $77,243,000 after acquiring an additional 311,424 shares during the period. 8 Knots Management LLC raised its position in shares of Alignment Healthcare by 6.4% in the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after acquiring an additional 300,409 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Alignment Healthcare by 7.1% in the 3rd quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock worth $77,943,000 after acquiring an additional 296,101 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.