Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Average Recommendation of “Moderate Buy” by Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.83.

Several research analysts have commented on ALHC shares. Stifel Nicolaus boosted 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. Barclays boosted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Bank of America boosted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction 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 owns 2,273,100 shares in the company, valued at $29,686,686. This represents a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 250,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $15.58, for a total transaction of $3,895,000.00. Following the completion of the sale, the chief financial officer now owns 1,635,849 shares of the company’s stock, valued at approximately $25,486,527.42. This trade represents a 13.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,799,454 shares of company stock worth $27,457,291 in the last 90 days. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

A number of large investors have recently bought and sold shares of ALHC. Wellington Management Group LLP raised its position in Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after buying an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the period. Millennium Management LLC grew its stake in shares of Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after purchasing an additional 2,896,311 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Alignment Healthcare during the 4th quarter worth $20,087,000. Finally, Broad Bay Capital Management LP acquired a new position in shares of Alignment Healthcare during the 4th quarter worth $18,804,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 1.9 %

Shares of ALHC stock opened at $15.79 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $3.03 billion, a P/E ratio of -20.51 and a beta of 1.49. The company has a 50 day moving average price of $14.38 and a 200 day moving average price of $12.41. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $16.25.

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.