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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $15.39.

A number of research analysts recently commented on ALHC shares. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Bank of America upped their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th.

Alignment Healthcare Trading Down 0.2 %

NASDAQ:ALHC opened at $19.74 on Wednesday. The stock has a market cap of $3.79 billion, a PE ratio of -25.64 and a beta of 1.32. Alignment Healthcare has a fifty-two week low of $4.66 and a fifty-two week high of $21.06. 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 50-day moving average is $16.14 and its two-hundred day moving average is $13.61.

Insider Activity at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $14.23, for a total value of $1,280,700.00. Following the transaction, the chief executive officer now owns 2,183,100 shares of the company’s stock, valued at $31,065,513. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Dawn Christine Maroney sold 278,917 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $4,331,581.01. Following the sale, the president now directly owns 2,303,975 shares of the company’s stock, valued at approximately $35,780,731.75. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,891,855 shares of company stock valued at $29,415,212. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently made changes to their positions in ALHC. Rhumbline Advisers boosted its stake in Alignment Healthcare by 4.4% during the 1st quarter. Rhumbline Advisers now owns 141,638 shares of the company’s stock valued at $2,637,000 after purchasing an additional 5,934 shares during the period. GAMMA Investing LLC boosted its position in shares of Alignment Healthcare by 3,216.9% in the first quarter. GAMMA Investing LLC now owns 23,815 shares of the company’s stock valued at $443,000 after acquiring an additional 23,097 shares during the period. Wellington Management Group LLP increased its position in Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the period. Mackenzie Financial Corp increased its position in Alignment Healthcare by 149.8% during the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock worth $958,000 after acquiring an additional 51,084 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Alignment Healthcare by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after purchasing an additional 36,151 shares during the period. 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.