Alignment Healthcare (NASDAQ:ALHC) Given New $9.00 Price Target at Barclays

Alignment Healthcare (NASDAQ:ALHC) had its price target raised by Barclays from $8.00 to $9.00 in a research note published on Friday,Benzinga reports. Barclays currently has an underweight rating on the stock.

ALHC has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.25.

Alignment Healthcare Stock Up 16.5 %

ALHC stock opened at $15.69 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $3.01 billion, a PE ratio of -20.38 and a beta of 1.50. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $15.85. The stock has a 50-day simple moving average of $13.50 and a two-hundred day simple moving average of $11.95.

Insiders Place Their Bets

In other news, insider Hyong Kim sold 62,574 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $12.20, for a total transaction of $763,402.80. Following the completion of the sale, the insider now owns 470,496 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, COO Sebastian Burzacchi sold 8,550 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the sale, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 441,002 shares of company stock valued at $5,772,726 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC raised its holdings in shares of Alignment Healthcare by 85.3% during the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after acquiring an additional 55,771 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after acquiring an additional 205,705 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring an additional 180,522 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares in the last quarter. Finally, Barclays PLC raised its holdings in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after purchasing an additional 114,191 shares in the last quarter. 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.