Stephens Reaffirms Overweight Rating for Alignment Healthcare (NASDAQ:ALHC)

Alignment Healthcare (NASDAQ:ALHC)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a research report issued on Monday,Benzinga reports. They currently have a $17.00 price target on the stock. Stephens’ price target would indicate a potential upside of 26.88% from the company’s current price.

ALHC has been the subject of a number of other reports. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $11.88.

Alignment Healthcare Trading Up 1.7 %

Shares of Alignment Healthcare stock traded up $0.22 during trading hours on Monday, reaching $13.40. 321,259 shares of the company’s stock were exchanged, compared to its average volume of 1,753,067. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -17.25 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. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $15.82. The company has a fifty day moving average of $13.19 and a 200-day moving average of $11.80.

Insider Activity

In other Alignment Healthcare news, insider Hakan Kardes sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the transaction, the insider now owns 320,444 shares in the company, valued at approximately $4,101,683.20. This represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total transaction of $213,945.64. Following the completion of the transaction, the insider now owns 200,885 shares of the company’s stock, valued at $2,888,726.30. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 476,002 shares of company stock valued at $6,220,726. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of ALHC. Mackenzie Financial Corp raised its holdings in shares of Alignment Healthcare by 149.8% in the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $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 boosted its stake in Alignment Healthcare by 15.9% in 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 purchasing an additional 36,151 shares during the period. Voloridge Investment Management LLC purchased a new position in Alignment Healthcare during the 4th quarter worth approximately $189,000. Squarepoint Ops LLC raised its stake in Alignment Healthcare by 414.6% during the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after purchasing an additional 159,774 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at $258,000. 86.19% of the stock is currently owned by 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.