Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $18.00

Alignment Healthcare (NASDAQ:ALHC) had its target price hoisted by analysts at Stifel Nicolaus from $16.00 to $18.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 15.33% from the stock’s current price.

ALHC has been the subject of several other research reports. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday. Barclays lifted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Alignment Healthcare Trading Up 15.9 %

NASDAQ ALHC traded up $2.14 during trading hours on Friday, hitting $15.61. 1,817,266 shares of the company’s stock were exchanged, compared to its average volume of 1,865,031. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $15.85. 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 stock has a 50-day simple moving average of $13.40 and a 200 day simple moving average of $11.89. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -20.18 and a beta of 1.50.

Insider Transactions at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the transaction, the president now owns 1,576,097 shares of the company’s stock, valued at $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Hyong Kim sold 62,574 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $12.20, for a total transaction of $763,402.80. Following the completion of the sale, the insider now owns 470,496 shares of the company’s stock, valued at approximately $5,740,051.20. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 441,002 shares of company stock valued at $5,772,726 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in shares of Alignment Healthcare by 77.9% during the 4th 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. grew 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 valued at $97,302,000 after acquiring an additional 3,059,596 shares in the last quarter. Millennium Management LLC increased its holdings in Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after acquiring an additional 2,896,311 shares during the period. Point72 Asset Management L.P. purchased a new stake in Alignment Healthcare in the 4th quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP bought a new position in Alignment Healthcare in the 4th quarter valued at $18,804,000. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.