Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $11.88 Average Price Target from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $11.88.

Several brokerages have weighed in on ALHC. Stifel Nicolaus lifted their target price on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Thursday, January 2nd. UBS Group lifted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,363,100 shares of the company’s stock, valued at approximately $27,530,115. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Sebastian Burzacchi sold 8,550 shares of Alignment Healthcare 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 transaction, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 476,002 shares of company stock worth $6,220,726 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of ALHC. Creative Planning raised its holdings in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the last quarter. nVerses Capital LLC acquired a new position in Alignment Healthcare during the third quarter worth $95,000. Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after purchasing an additional 180,522 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Alignment Healthcare in the third quarter worth $3,782,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alignment Healthcare in the third quarter valued at $131,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Trading Down 8.4 %

Shares of ALHC stock opened at $13.17 on Tuesday. The business’s 50 day moving average is $13.19 and its two-hundred day moving average is $11.78. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $15.82. The company has a market capitalization of $2.52 billion, a P/E ratio of -17.10 and a beta of 1.50. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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.