Alignment Healthcare (NASDAQ:ALHC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by Piper Sandler from $14.00 to $21.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Barclays boosted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock opened at $15.25 on Tuesday. 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 firm has a market cap of $2.93 billion, a PE ratio of -19.81 and a beta of 1.49. The business’s fifty day simple moving average is $13.89 and its 200-day simple moving average is $12.14. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $16.25.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 8,550 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the transaction, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at $2,447,867.70. This represents a 3.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert L. Scavo sold 55,403 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $860,408.59. Following the completion of the transaction, the insider now directly owns 673,419 shares of the company’s stock, valued at $10,458,197.07. This represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,760,756 shares of company stock worth $26,490,627. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in ALHC. Creative Planning grew its position in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alignment Healthcare by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after acquiring an additional 2,154 shares during the period. Rhumbline Advisers raised its stake in shares of Alignment Healthcare by 2.2% during the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after purchasing an additional 2,937 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Alignment Healthcare by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock worth $690,000 after buying an additional 3,256 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Alignment Healthcare by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors 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.