Alignment Healthcare (NASDAQ:ALHC) Earns Outperform Rating from William Blair

Alignment Healthcare (NASDAQ:ALHC)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a report released on Friday,RTT News reports.

ALHC has been the subject of several other reports. Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Stifel Nicolaus raised their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.25.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $15.69 on Friday. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $15.85. The company has a market capitalization of $3.01 billion, a P/E ratio of -20.38 and a beta of 1.50. The business has a 50 day moving average price of $13.50 and a 200 day moving average price of $11.97. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Insiders Place Their Bets

In other news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total value of $411,600.00. Following the completion of the sale, the president now owns 1,576,097 shares of the company’s stock, valued at $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total value of $1,048,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,363,100 shares of the company’s stock, valued at approximately $27,530,115. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 441,002 shares of company stock valued at $5,772,726. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Alignment Healthcare in the fourth quarter valued at $55,000. RiverPark Advisors LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at $106,000. Tower Research Capital LLC TRC boosted its holdings in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at $121,000. Finally, Aigen Investment Management LP acquired a new position in Alignment Healthcare in the fourth quarter valued at $129,000. Hedge funds and other institutional investors 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.