Alignment Healthcare (NASDAQ:ALHC - Free Report) had its target price boosted by Stifel Nicolaus from $18.00 to $23.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.
Several other research firms have also weighed in on ALHC. Piper Sandler boosted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Stephens restated an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Bank of America lifted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued 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 price target of $15.39.
Get Our Latest Stock Analysis on ALHC
Alignment Healthcare Stock Down 0.2 %
Shares of NASDAQ ALHC traded down $0.04 during trading hours on Tuesday, hitting $19.74. The company had a trading volume of 2,502,755 shares, compared to its average volume of 1,633,732. Alignment Healthcare has a 1-year low of $4.66 and a 1-year high of $21.06. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm's 50 day moving average is $16.14 and its 200-day moving average is $13.59. The stock has a market capitalization of $3.79 billion, a P/E ratio of -25.64 and a beta of 1.32.
Insider Activity at Alignment Healthcare
In other Alignment Healthcare news, insider Christopher J. Joyce sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $15.58, for a total transaction of $389,500.00. Following the sale, the insider now directly owns 397,845 shares in the company, valued at $6,198,425.10. This represents a 5.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the sale, the insider now directly owns 200,885 shares of the company's stock, valued at approximately $2,888,726.30. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,981,855 shares of company stock worth $30,590,612. Company insiders own 6.60% of the company's stock.
Institutional Investors Weigh In On Alignment Healthcare
Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position 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. raised its stake 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 in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Alignment Healthcare by 77.9% in 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 last quarter. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock valued at $55,721,000 after purchasing an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC boosted its stake in shares of Alignment Healthcare by 49.5% in the 4th 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. Institutional investors and hedge funds own 86.19% of the company's stock.
About Alignment Healthcare
(
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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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