Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $18.50 at Bank of America

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by Bank of America from $15.50 to $18.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 20.95% from the stock’s current price.

A number of other brokerages also recently weighed in on ALHC. Barclays upped their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday. Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $13.19.

Alignment Healthcare Stock Performance

Alignment Healthcare stock traded down $0.23 during midday trading on Tuesday, reaching $15.30. 364,147 shares of the stock traded hands, compared to its average volume of 1,957,836. The firm has a fifty day moving average price of $13.60 and a two-hundred day moving average price of $12.04. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $16.25. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -19.86 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.

Insider Buying and Selling

In other news, COO Sebastian Burzacchi sold 8,550 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 217,395 shares in the company, valued at approximately $2,447,867.70. This represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total value of $411,600.00. Following the transaction, the president now owns 1,576,097 shares of the company’s stock, valued at $21,624,050.84. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 441,002 shares of company stock valued at $5,772,726. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $55,000. RiverPark Advisors LLC acquired a new position in Alignment Healthcare during the 4th quarter worth $106,000. Tower Research Capital LLC TRC increased its stake in shares of Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares during the period. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP bought a new position in shares of Alignment Healthcare in the 4th quarter valued at about $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.