Bank of America Issues Positive Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its price target increased by stock analysts at Bank of America from $15.50 to $18.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 20.95% from the company’s current price.

Several other analysts also recently commented on ALHC. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays increased their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.19.

Alignment Healthcare Trading Down 1.4 %

ALHC traded down $0.23 during mid-day trading on Tuesday, hitting $15.30. The stock had a trading volume of 364,147 shares, compared to its average volume of 1,957,836. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -19.86 and a beta of 1.50. Alignment Healthcare has a 1-year low of $4.46 and a 1-year 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. The stock’s fifty day simple moving average is $13.60 and its 200-day simple moving average is $12.04.

Insider Activity at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the sale, the president now directly owns 1,576,097 shares in the company, valued at $21,624,050.84. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Hyong Kim sold 62,574 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $12.20, for a total transaction of $763,402.80. Following the sale, the insider now directly owns 470,496 shares in the company, valued at $5,740,051.20. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 441,002 shares of company stock worth $5,772,726. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. Vanguard Group Inc. raised its stake in shares of Alignment Healthcare by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after purchasing an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Alignment Healthcare by 54.7% in 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 buying an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP lifted its stake in Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Alignment Healthcare by 39.6% during the 4th 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 boosted its holdings in Alignment Healthcare by 49.5% during the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after acquiring an additional 1,211,727 shares during the last quarter. 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.