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

Alignment Healthcare (NASDAQ:ALHC) had its price objective boosted by equities research analysts at Barclays from $8.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential downside of 42.13% from the stock’s current price.

A number of other research firms have also weighed in on ALHC. Stifel Nicolaus upped their target price on Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

Alignment Healthcare Trading Up 15.5 %

Shares of ALHC traded up $2.08 during mid-day trading on Friday, reaching $15.55. 1,704,738 shares of the company’s stock traded hands, compared to its average volume of 1,860,821. The stock has a market cap of $2.98 billion, a P/E ratio of -20.29 and a beta of 1.50. The stock’s 50-day moving average is $13.40 and its two-hundred day moving average is $11.89. Alignment Healthcare has a 12 month low of $4.46 and a 12 month 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.

Insider Activity

In other news, insider Andreas P. Wagner sold 14,878 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total value of $213,945.64. Following the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at approximately $2,888,726.30. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hyong Kim sold 62,574 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $12.20, for a total transaction of $763,402.80. Following the completion of the sale, the insider now directly owns 470,496 shares in the company, valued at $5,740,051.20. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 441,002 shares of company stock worth $5,772,726 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 149.8% in the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after purchasing an additional 51,084 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alignment Healthcare by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after acquiring an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Alignment Healthcare during the 4th quarter worth approximately $189,000. Squarepoint Ops LLC grew its holdings in Alignment Healthcare by 414.6% during the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after acquiring an additional 159,774 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Alignment Healthcare during the 4th quarter worth approximately $258,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.