Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $14.83.

Several equities analysts have commented on ALHC shares. JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Finally, Bank of America raised their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th.

Alignment Healthcare Trading Up 2.5 %

NASDAQ:ALHC opened at $17.61 on Friday. The company has a 50-day moving average price of $14.90 and a 200-day moving average price of $12.69. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -22.87 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $17.76.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the completion of the sale, the chief executive officer now owns 2,273,100 shares of the company’s stock, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the sale, the president now owns 1,606,097 shares of the company’s stock, valued at approximately $21,858,980.17. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,901,665 shares of company stock worth $29,141,513. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALHC. R Squared Ltd purchased a new stake in Alignment Healthcare during the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare during the fourth quarter worth $106,000. Tower Research Capital LLC TRC boosted its position in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC purchased a new position in Alignment Healthcare during the fourth quarter valued at $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Alignment Healthcare in the 3rd quarter valued at $131,000. Hedge funds and other 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.