Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its target price lifted by investment analysts at Barclays from $8.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target indicates a potential downside of 42.13% from the stock’s previous close.

ALHC has been the topic of a number of other research reports. Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Alignment Healthcare Stock Performance

Shares of ALHC stock traded up $2.08 during trading hours on Friday, reaching $15.55. The stock had a trading volume of 1,704,738 shares, compared to its average volume of 1,860,821. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $15.85. The firm has a 50-day simple moving average of $13.40 and a 200-day simple moving average of $11.89. The firm has a market capitalization of $2.98 billion, a PE ratio of -20.29 and a beta of 1.50.

Insider Buying and Selling

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total value of $411,600.00. Following the completion of the sale, the president now owns 1,576,097 shares of the company’s stock, valued at $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Sebastian Burzacchi sold 8,550 shares of Alignment Healthcare stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the sale, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at $2,447,867.70. The trade was a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 441,002 shares of company stock valued at $5,772,726. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several large investors have recently made changes to their positions in the business. Creative Planning lifted its position in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after buying an additional 2,154 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after buying an additional 2,937 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock worth $690,000 after buying an additional 3,256 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after buying an additional 3,300 shares in the last quarter. 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.