Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $18.50

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by Bank of America from $15.50 to $18.50 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on ALHC. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. 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, February 28th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $15.25 on Tuesday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -19.81 and a beta of 1.49. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $16.25. 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 stock has a 50 day moving average price of $13.89 and a 200 day moving average price of $12.14.

Insider Activity

In other news, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction that occurred 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 owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. The trade was a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher J. Joyce sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $389,500.00. Following the sale, the insider now owns 397,845 shares of the company’s stock, valued at $6,198,425.10. This trade represents a 5.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,760,756 shares of company stock valued at $26,490,627. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at $55,000. RiverPark Advisors LLC purchased a new stake in Alignment Healthcare in the fourth quarter valued at approximately $106,000. Tower Research Capital LLC TRC increased its holdings in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after buying an additional 6,286 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Alignment Healthcare during the fourth quarter worth about $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alignment Healthcare in the third quarter valued at approximately $131,000. 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.