Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $11.88 Consensus Target Price from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $11.88.

Several equities analysts recently commented on the company. Barclays upped their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. UBS Group upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday.

Alignment Healthcare Trading Up 3.4 %

Alignment Healthcare stock opened at $13.63 on Tuesday. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $15.82. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The business’s 50 day simple moving average is $13.24 and its 200 day simple moving average is $11.84.

Insiders Place Their Bets

In related news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total value of $411,600.00. Following the sale, the president now owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the completion of the sale, the insider now owns 200,885 shares in the company, valued at $2,888,726.30. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 476,002 shares of company stock worth $6,220,726 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after buying an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP increased its stake in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC increased its stake in Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after acquiring an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC increased its stake in Alignment Healthcare by 49.5% in the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after acquiring an additional 1,211,727 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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.