JPMorgan Chase & Co. Increases Alignment Healthcare (NASDAQ:ALHC) Price Target to $17.00

Alignment Healthcare (NASDAQ:ALHC) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $14.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 14.17% from the stock’s previous close.

ALHC has been the subject of several other reports. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Piper Sandler lifted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America upped their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday. Barclays increased their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Finally, Stephens reiterated 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, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $14.89 on Thursday. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $16.25. 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 market cap of $2.86 billion, a P/E ratio of -19.34 and a beta of 1.49. The stock has a 50 day moving average of $13.89 and a 200-day moving average of $12.14.

Insiders Place Their Bets

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 8,550 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at $2,447,867.70. This trade represents a 3.78 % 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, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Monday, January 13th. The stock was 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 in the company, valued at $29,686,686. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,760,756 shares of company stock valued at $26,490,627 over the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALHC. R Squared Ltd acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at $106,000. Tower Research Capital LLC TRC increased its holdings in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after purchasing an additional 6,286 shares during the period. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at $129,000. 86.19% of the stock is owned by institutional investors and hedge funds.

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.