Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Average Rating of "Moderate Buy" by Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.39.

ALHC has been the subject of several research reports. Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Stephens reissued an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 6th. Finally, Stifel Nicolaus lifted their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 6,694 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the transaction, the chief operating officer now owns 250,378 shares in the company, valued at $4,106,199.20. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 250,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $3,895,000.00. Following the sale, the chief financial officer now directly owns 1,635,849 shares of the company's stock, valued at $25,486,527.42. This trade represents a 13.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,981,855 shares of company stock valued at $30,590,612 over the last three months. 6.60% of the stock is owned by corporate insiders.

Remove Ads

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 77.9% during 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 period. T. Rowe Price Investment Management Inc. boosted its stake in Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after purchasing an additional 3,059,596 shares during the period. Millennium Management LLC grew its holdings in Alignment Healthcare by 588.3% in the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock valued at $38,122,000 after buying an additional 2,896,311 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Alignment Healthcare in the 4th quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP acquired a new position in shares of Alignment Healthcare during the fourth quarter worth approximately $18,804,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded down $0.04 during trading on Wednesday, hitting $19.74. The stock had a trading volume of 2,502,755 shares, compared to its average volume of 1,638,063. The business has a fifty day moving average of $16.14 and a two-hundred day moving average of $13.61. Alignment Healthcare has a fifty-two week low of $4.66 and a fifty-two week high of $21.06. The firm has a market cap of $3.79 billion, a P/E ratio of -25.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

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.