Piper Sandler Forecasts Strong Price Appreciation for Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare (NASDAQ:ALHC) had its target price boosted by investment analysts at Piper Sandler from $14.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 32.83% from the company’s current price.

Several other brokerages have also commented on ALHC. Stifel Nicolaus upped their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Barclays upped their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. One investment 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. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $14.56.

Alignment Healthcare Stock Up 0.4 %

Shares of Alignment Healthcare stock opened at $15.81 on Tuesday. Alignment Healthcare has a one year low of $4.46 and a one 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 50-day moving average is $13.80 and its 200 day moving average is $12.12. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -20.53 and a beta of 1.50.

Insider Transactions at Alignment Healthcare

In other news, COO Sebastian Burzacchi sold 8,550 shares of the stock in a transaction that occurred 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. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,363,100 shares of the company’s stock, valued at approximately $27,530,115. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 378,428 shares of company stock valued at $5,009,324 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 149.8% in the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after acquiring an additional 51,084 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Alignment Healthcare by 15.9% in the fourth 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 acquiring an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $189,000. Squarepoint Ops LLC grew its holdings in shares of Alignment Healthcare by 414.6% in the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after acquiring an additional 159,774 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $258,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.