Alignment Healthcare (NASDAQ:ALHC) Receives Overweight Rating from Stephens

Stephens restated their overweight rating on shares of Alignment Healthcare (NASDAQ:ALHC) in a research report released on Monday,Benzinga reports. They currently have a $17.00 price objective on the stock.

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

Alignment Healthcare Stock Performance

ALHC opened at $13.16 on Monday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average price is $13.34 and its two-hundred day moving average price is $11.88. The firm has a market capitalization of $2.52 billion, a P/E ratio of -17.09 and a beta of 1.50. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $15.82.

Insiders Place Their Bets

In other news, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total transaction of $96,273.00. Following the completion of the transaction, the chief operating officer now directly owns 217,395 shares in the company, valued at approximately $2,447,867.70. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,363,100 shares in the company, valued at $27,530,115. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 441,002 shares of company stock valued at $5,772,726. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Alignment Healthcare by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock valued at $110,453,000 after acquiring an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after acquiring an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP boosted its position in Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after purchasing an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC lifted its position in shares of Alignment Healthcare by 49.5% in the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,211,727 shares in the last quarter. Institutional investors 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.