Alignment Healthcare (NASDAQ:ALHC) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Alignment Healthcare (NASDAQ:ALHC) had its target price hoisted by investment analysts at Stifel Nicolaus from $16.00 to $18.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 15.33% from the stock’s current price.

A number of other equities analysts have also commented on ALHC. Barclays increased their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research note on Friday. Finally, Stephens restated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday. One equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Alignment Healthcare Price Performance

Shares of ALHC stock traded up $2.14 during trading on Friday, hitting $15.61. The company had a trading volume of 1,817,266 shares, compared to its average volume of 1,865,031. The stock’s 50-day moving average is $13.40 and its two-hundred day moving average is $11.89. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -20.18 and a beta of 1.50. The company has a quick ratio of 1.60, a current 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 $15.85.

Insider Activity

In related news, insider Hyong Kim sold 62,574 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $12.20, for a total value of $763,402.80. Following the sale, the insider now directly owns 470,496 shares of the company’s stock, valued at $5,740,051.20. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total value of $1,048,500.00. Following the transaction, the chief executive officer now owns 2,363,100 shares in the company, valued at approximately $27,530,115. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 441,002 shares of company stock valued at $5,772,726. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Alignment Healthcare by 1.7% during the fourth 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. increased its position in Alignment Healthcare by 54.7% during 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 purchasing an additional 3,059,596 shares during the period. Wellington Management Group LLP raised its holdings in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC lifted its position in shares of Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after purchasing an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC boosted its stake in shares of Alignment Healthcare by 49.5% during the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after purchasing an additional 1,211,727 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.