Piper Sandler Forecasts Strong Price Appreciation for Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare (NASDAQ:ALHC) had its price objective boosted by equities research analysts at Piper Sandler from $14.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 36.28% from the company’s current price.

ALHC has been the topic of a number of other reports. Bank of America upped their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday. 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 research report on Friday. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.56.

Alignment Healthcare Stock Down 0.7 %

Shares of ALHC stock traded down $0.11 during trading hours on Tuesday, reaching $15.41. 679,891 shares of the stock were exchanged, compared to its average volume of 1,967,055. The firm has a market capitalization of $2.95 billion, a P/E ratio of -20.04 and a beta of 1.50. The business’s fifty day moving average is $13.60 and its two-hundred day moving average is $12.04. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $16.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Hyong Kim sold 62,574 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $12.20, for a total value of $763,402.80. Following the transaction, the insider now owns 470,496 shares of the company’s stock, valued at $5,740,051.20. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the completion of the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at $2,888,726.30. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 441,002 shares of company stock worth $5,772,726 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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