Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $23.00

Alignment Healthcare (NASDAQ:ALHC) had its target price boosted by stock analysts at Stifel Nicolaus from $18.00 to $23.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 15.50% from the stock’s previous close.

ALHC has been the topic of several other reports. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Barclays lifted their price target 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. 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, March 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.39.

Alignment Healthcare Trading Up 11.8 %

NASDAQ:ALHC traded up $2.09 during trading hours on Tuesday, hitting $19.91. The stock had a trading volume of 2,446,740 shares, compared to its average volume of 1,563,400. The business’s 50 day moving average is $15.69 and its 200-day moving average is $13.29. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -25.86 and a beta of 1.32. Alignment Healthcare has a one year low of $4.62 and a one year high of $21.05. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Insiders Place Their Bets

In related news, insider Christopher J. Joyce sold 25,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the transaction, the insider now owns 415,022 shares in the company, valued at approximately $7,665,456.34. This trade represents a 5.68 % 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 Robert L. Scavo sold 2,864 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the sale, the insider now owns 702,953 shares in the company, valued at $12,575,829.17. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,981,855 shares of company stock valued at $30,590,612 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Alignment Healthcare by 1.7% during the 4th 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 during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Alignment Healthcare by 54.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the period. Hood River Capital Management LLC increased its stake in shares of Alignment Healthcare by 39.6% during the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after purchasing an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC increased its stake in shares of Alignment Healthcare by 49.5% during the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,211,727 shares during the period. 86.19% of the stock is owned by institutional investors.

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.