Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $15.39 Consensus Target Price from Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given an average rating of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $16.61.

ALHC has been the subject of several analyst reports. 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, February 28th. Stifel Nicolaus raised their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Bank of America boosted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th.

Insider Transactions at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 25,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the completion of the sale, the insider now directly owns 415,022 shares in the company, valued at $7,665,456.34. The trade was a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the transaction, the president now owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,861,855 shares of company stock valued at $29,006,912. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after buying an additional 205,705 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring an additional 180,522 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Alignment Healthcare by 132.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after acquiring an additional 73,402 shares in the last quarter. Barclays PLC lifted its stake in shares of Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Finally, US Bancorp DE boosted its position in Alignment Healthcare by 6,544.2% during the fourth quarter. US Bancorp DE now owns 98,932 shares of the company’s stock valued at $1,113,000 after purchasing an additional 97,443 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Up 1.6 %

Shares of NASDAQ ALHC opened at $19.43 on Wednesday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -25.23 and a beta of 1.32. Alignment Healthcare has a 12-month low of $4.71 and a 12-month high of $21.06. 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 firm’s 50-day moving average price is $16.29 and its 200-day moving average price is $13.70.

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.