Stifel Nicolaus Issues Positive Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its target price upped by analysts at Stifel Nicolaus from $18.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 24.06% from the stock’s current price.

Several other research firms have also issued reports on ALHC. JPMorgan Chase & Co. boosted 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. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Piper Sandler increased their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.39.

Alignment Healthcare Trading Down 2.2 %

Shares of ALHC stock opened at $18.54 on Tuesday. 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 company has a market cap of $3.56 billion, a price-to-earnings ratio of -24.08 and a beta of 1.32. Alignment Healthcare has a 1 year low of $4.62 and a 1 year high of $21.06. The firm has a fifty day moving average price of $15.96 and a 200-day moving average price of $13.47.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 25,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the insider now directly owns 415,022 shares in the company, valued at approximately $7,665,456.34. The trade was a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert L. Scavo sold 2,864 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the transaction, the insider now owns 702,953 shares of the company’s stock, valued at $12,575,829.17. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,981,855 shares of company stock valued at $30,590,612 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Hedge funds have recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at $55,000. RiverPark Advisors LLC purchased a new stake in Alignment Healthcare during the fourth quarter valued at $106,000. Tower Research Capital LLC TRC lifted its position in Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after purchasing an additional 6,286 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Alignment Healthcare in the 4th quarter worth $121,000. Finally, Aigen Investment Management LP bought a new stake in shares of Alignment Healthcare in the 4th quarter worth about $129,000. 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.