Robert W. Baird Forecasts Strong Price Appreciation for Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare (NASDAQ:ALHC) had its price target lifted by Robert W. Baird from $17.00 to $22.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus increased their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Bank of America boosted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Piper Sandler lifted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, Barclays lifted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.61.

Alignment Healthcare Price Performance

Shares of ALHC opened at $18.24 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $3.50 billion, a P/E ratio of -23.69 and a beta of 1.32. The stock’s 50-day moving average price is $16.46 and its two-hundred day moving average price is $13.79. Alignment Healthcare has a 1 year low of $4.90 and a 1 year high of $21.06.

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 554,713 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the completion of the transaction, the chief executive officer now owns 4,733,664 shares in the company, valued at approximately $73,513,801.92. This represents a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the sale, the president now directly owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,181,855 shares of company stock worth $35,118,912 in the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several large investors have recently modified their holdings of ALHC. R Squared Ltd bought a new position in Alignment Healthcare during the fourth quarter valued at $55,000. RiverPark Advisors LLC purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at $106,000. Tower Research Capital LLC TRC lifted its position in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Alignment Healthcare during the 4th quarter worth $121,000. Finally, Aigen Investment Management LP purchased a new stake in Alignment Healthcare in the 4th quarter worth about $129,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.