Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s share price hit a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from $18.00 to $23.00. Stifel Nicolaus currently has a buy rating on the stock. Alignment Healthcare traded as high as $21.06 and last traded at $18.95, with a volume of 9521518 shares. The stock had previously closed at $17.82.
ALHC has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Bank of America lifted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Barclays raised their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. Piper Sandler upped their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Finally, Stephens restated an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and an average target price of $15.39.
Check Out Our Latest Research Report on ALHC
Insider Transactions at Alignment Healthcare
In related news, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the transaction, the chief executive officer now directly owns 2,273,100 shares of the company's stock, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Dawn Christine Maroney sold 278,917 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $4,331,581.01. Following the sale, the president now owns 2,303,975 shares of the company's stock, valued at $35,780,731.75. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,981,855 shares of company stock worth $30,590,612 in the last 90 days. Insiders own 6.60% of the company's stock.
Hedge Funds Weigh In On Alignment Healthcare
Institutional investors have recently bought and sold shares of the company. 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 valued at $110,453,000 after buying an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings 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 acquiring an additional 3,059,596 shares during the period. Wellington Management Group LLP lifted its position 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 in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of 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 worth $55,721,000 after acquiring an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC grew its position in shares of 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 purchasing an additional 1,211,727 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.
Alignment Healthcare Stock Performance
The business has a 50 day moving average of $16.14 and a 200-day moving average of $13.61. The company has a market capitalization 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 quick ratio of 1.60 and a current ratio of 1.60.
About Alignment Healthcare
(
Get Free Report)
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.
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