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

Alignment Healthcare (NASDAQ:ALHC) had its target price raised by Barclays from $8.00 to $9.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

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

Alignment Healthcare Price Performance

Shares of 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 debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business has a fifty day moving average price of $13.50 and a 200-day moving average price of $11.95. The company has a market capitalization of $3.01 billion, a PE ratio of -20.38 and a beta of 1.50.

Insiders Place Their Bets

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 8,550 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the transaction, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. This trade represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hyong Kim sold 62,574 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $12.20, for a total value of $763,402.80. Following the completion of the transaction, the insider now directly owns 470,496 shares in the company, valued at $5,740,051.20. The trade was a 11.74 % 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. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALHC. Creative Planning lifted its position in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares in the last quarter. Principal Financial Group Inc. raised its stake in Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares during the period. Royce & Associates LP bought a new stake in Alignment Healthcare during the 3rd quarter valued at approximately $3,782,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Alignment Healthcare during the 3rd quarter valued at approximately $131,000. Finally, Intech Investment Management LLC bought a new stake in Alignment Healthcare during the 3rd quarter valued at approximately $315,000. 86.19% of the stock is 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.