Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $21.00

Alignment Healthcare (NASDAQ:ALHC) had its target price upped by Piper Sandler from $14.00 to $21.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. One research 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 stock. Based on data from MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $15.25 on Tuesday. 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 stock’s 50 day moving average is $13.89 and its 200-day moving average is $12.14. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $16.25. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -19.81 and a beta of 1.49.

Insider Buying and Selling

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 8,550 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total transaction of $96,273.00. Following the completion of the transaction, the chief operating officer now owns 217,395 shares in the company, valued at $2,447,867.70. This trade represents a 3.78 % 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, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 2,273,100 shares of the company’s stock, valued at $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,760,756 shares of company stock valued at $26,490,627. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. R Squared Ltd bought a new position in Alignment Healthcare in the fourth quarter worth about $55,000. RiverPark Advisors LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth $106,000. Tower Research Capital LLC TRC boosted its position in Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after purchasing an additional 6,286 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP purchased a new position in Alignment Healthcare during the fourth quarter worth approximately $129,000. Institutional investors own 86.19% of the company’s stock.

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.