Barclays Increases Alignment Healthcare (NASDAQ:ALHC) Price Target to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its price target raised by equities researchers at Barclays from $8.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 42.64% from the stock’s previous close.

Several other research firms have also commented on ALHC. Stifel Nicolaus raised their target price on Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

Alignment Healthcare Trading Up 16.5 %

Shares of NASDAQ:ALHC opened at $15.69 on Friday. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $15.85. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -20.38 and a beta of 1.50. 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 business has a 50-day moving average price of $13.50 and a 200-day moving average price of $11.97.

Insider Buying and Selling at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the sale, the chief executive officer now directly owns 2,363,100 shares of the company’s stock, valued at $27,530,115. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Sebastian Burzacchi sold 8,550 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the sale, the chief operating officer now directly owns 217,395 shares in the company, valued at $2,447,867.70. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 441,002 shares of company stock valued at $5,772,726. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Mackenzie Financial Corp lifted its position in Alignment Healthcare by 149.8% during the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $958,000 after buying an additional 51,084 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alignment Healthcare by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after buying an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Alignment Healthcare during the fourth quarter worth approximately $189,000. Squarepoint Ops LLC lifted its position in Alignment Healthcare by 414.6% during the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after buying an additional 159,774 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Alignment Healthcare during the fourth quarter worth approximately $258,000. 86.19% of the stock is owned by institutional investors and hedge funds.

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.