Alignment Healthcare (NASDAQ:ALHC) Given New $18.50 Price Target at Bank of America

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by Bank of America from $15.50 to $18.50 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

ALHC has been the topic of several other reports. Barclays upped their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.56.

Alignment Healthcare Price Performance

Shares of ALHC opened at $15.75 on Tuesday. The firm has a market capitalization of $3.02 billion, a PE ratio of -20.45 and a beta of 1.50. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $16.25. The company’s fifty day moving average price is $13.70 and its 200-day moving average price is $12.09.

Insiders Place Their Bets

In other news, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the transaction, the chief operating officer now owns 217,395 shares of the company’s stock, valued at $2,447,867.70. The trade was a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the transaction, the president now directly owns 1,576,097 shares of the company’s stock, valued at approximately $21,624,050.84. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 441,002 shares of company stock worth $5,772,726. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALHC. Creative Planning raised its holdings in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after acquiring an additional 2,154 shares in the last quarter. Rhumbline Advisers raised its holdings in Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after acquiring an additional 2,937 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after acquiring an additional 3,256 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Alignment Healthcare by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after purchasing an additional 3,300 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.