Alignment Healthcare’s (ALHC) Overweight Rating Reaffirmed at Stephens

Alignment Healthcare (NASDAQ:ALHC)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $17.00 price objective on the stock. Stephens’ price target indicates a potential upside of 26.96% from the stock’s previous close.

ALHC has been the topic of several other reports. UBS Group upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Barclays increased their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Trading Down 1.8 %

ALHC opened at $13.39 on Monday. The stock has a market capitalization of $2.57 billion, a PE ratio of -17.39 and a beta of 1.50. The firm’s fifty day moving average price is $13.29 and its 200 day moving average price is $11.87. 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 12-month low of $4.46 and a 12-month high of $15.82.

Insiders Place Their Bets

In other news, insider Hyong Kim sold 62,574 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $12.20, for a total transaction of $763,402.80. Following the completion of the transaction, the insider now owns 470,496 shares in the company, valued at approximately $5,740,051.20. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the transaction, the chief executive officer now owns 2,363,100 shares of the company’s stock, valued at $27,530,115. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 441,002 shares of company stock valued at $5,772,726. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently modified their holdings of the company. Creative Planning grew its position in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Alignment Healthcare by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after acquiring an additional 2,154 shares during the last quarter. Rhumbline Advisers grew its position in shares of Alignment Healthcare by 2.2% during the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after acquiring an additional 2,937 shares during the last quarter. MetLife Investment Management LLC grew its position in Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after buying an additional 3,256 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Alignment Healthcare by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after buying an additional 3,300 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

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.