Alignment Healthcare (NASDAQ:ALHC) Receives Overweight Rating from Stephens

Alignment Healthcare (NASDAQ:ALHC)‘s stock had its “overweight” rating reiterated by Stephens in a report released on Monday,Benzinga reports. They presently have a $17.00 price target on the stock. Stephens’ price target points to a potential upside of 26.88% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Barclays boosted their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock traded up $0.22 during trading on Monday, hitting $13.40. 321,259 shares of the company’s stock were exchanged, compared to its average volume of 1,753,067. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $15.82. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -17.25 and a beta of 1.50. The business has a 50-day simple moving average of $13.19 and a 200-day simple moving average of $11.80.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total value of $411,600.00. Following the transaction, the president now directly owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. The trade was a 1.87 % 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, insider Hakan Kardes sold 35,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the sale, the insider now owns 320,444 shares of the company’s stock, valued at $4,101,683.20. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 476,002 shares of company stock valued at $6,220,726 over the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 worth $110,453,000 after buying an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings 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 valued at $97,302,000 after acquiring an additional 3,059,596 shares during the period. Wellington Management Group LLP boosted its position in shares of Alignment Healthcare by 77.9% during 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 grew its position in 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 worth $55,721,000 after buying an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC grew 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 acquiring an additional 1,211,727 shares during the period. 86.19% of the stock is currently owned by hedge funds and other 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.