William Blair Reiterates Outperform Rating for Alignment Healthcare (NASDAQ:ALHC)

Alignment Healthcare (NASDAQ:ALHC)‘s stock had its “outperform” rating reiterated by research analysts at William Blair in a note issued to investors on Friday,RTT News reports.

A number of other equities research analysts have also recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday. Stifel Nicolaus lifted their target price on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Barclays increased their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.25.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded up $2.14 during mid-day trading on Friday, hitting $15.61. The stock had a trading volume of 1,817,266 shares, compared to its average volume of 1,865,031. 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 company has a 50 day simple moving average of $13.40 and a 200-day simple moving average of $11.89. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -20.18 and a beta of 1.50. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $15.85.

Insider Activity

In related news, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total transaction of $213,945.64. Following the completion of the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at $2,888,726.30. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hyong Kim sold 62,574 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $12.20, for a total transaction of $763,402.80. Following the sale, the insider now owns 470,496 shares of the company’s stock, valued at $5,740,051.20. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 441,002 shares of company stock worth $5,772,726. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning grew its holdings in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Alignment Healthcare by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after purchasing an additional 2,154 shares during the period. Rhumbline Advisers increased its stake in Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after purchasing an additional 2,937 shares in the last quarter. MetLife Investment Management LLC increased its stake in Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock worth $690,000 after purchasing an additional 3,256 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Alignment Healthcare by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after buying an additional 3,300 shares during the period. Institutional investors and hedge funds 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.