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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.83.

Several research firms recently weighed in on ALHC. Stifel Nicolaus lifted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Piper Sandler lifted their price target on 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 lifted their price target 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 restated an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th.

Insider Transactions at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $15.99, for a total value of $479,700.00. Following the completion of the transaction, the president now owns 2,417,700 shares in the company, valued at $38,659,023. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert L. Scavo sold 5,313 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $15.43, for a total value of $81,979.59. Following the completion of the transaction, the insider now owns 668,106 shares of the company's stock, valued at $10,308,875.58. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,829,454 shares of company stock worth $27,936,991 over the last quarter. 6.60% of the stock is currently owned by insiders.

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Institutional Trading of Alignment Healthcare

Large investors have recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Alignment Healthcare in the fourth quarter worth $55,000. RiverPark Advisors LLC bought a new stake in shares of Alignment Healthcare in the fourth quarter worth $106,000. Tower Research Capital LLC TRC grew its holdings in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after acquiring an additional 6,286 shares during the period. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the fourth quarter valued at about $121,000. Finally, Aigen Investment Management LP bought a new stake in Alignment Healthcare during the fourth quarter valued at about $129,000. Institutional investors own 86.19% of the company's stock.

Alignment Healthcare Trading Up 4.0 %

Shares of ALHC stock traded up $0.65 during trading hours on Friday, reaching $16.74. The company's stock had a trading volume of 4,615,511 shares, compared to its average volume of 1,413,471. The stock has a market capitalization of $3.21 billion, a P/E ratio of -21.74 and a beta of 1.49. Alignment Healthcare has a one year low of $4.46 and a one year high of $17.21. The firm's fifty day simple moving average is $14.48 and its 200 day simple moving average is $12.51. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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.