Alignment Healthcare’s (ALHC) “Overweight” Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Alignment Healthcare (NASDAQ:ALHC) in a report released on Monday,Benzinga reports. They currently have a $17.00 price target on the stock.

A number of other brokerages also recently issued reports on ALHC. Stifel Nicolaus increased their target price on Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Barclays increased their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Trading Up 3.4 %

Shares of Alignment Healthcare stock opened at $13.63 on Monday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -17.70 and a beta of 1.50. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $15.82. The company’s 50-day simple moving average is $13.24 and its 200-day simple moving average is $11.84. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Insider Buying and Selling

In related news, insider Hakan Kardes sold 35,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the transaction, the insider now owns 320,444 shares of the company’s stock, valued at approximately $4,101,683.20. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the sale, the chief executive officer now directly owns 2,363,100 shares in the company, valued at $27,530,115. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 476,002 shares of company stock worth $6,220,726 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently bought and sold shares of ALHC. Creative Planning boosted its holdings in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the last quarter. Principal Financial Group Inc. lifted its position in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares during the period. Royce & Associates LP purchased a new stake in Alignment Healthcare in the 3rd quarter valued at about $3,782,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare during the 3rd quarter valued at about $131,000. Finally, Intech Investment Management LLC purchased a new position in shares of Alignment Healthcare during the 3rd quarter worth about $315,000. Institutional investors and hedge funds 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.