Alignment Healthcare (NASDAQ:ALHC) Given New $18.00 Price Target at Stifel Nicolaus

Alignment Healthcare (NASDAQ:ALHC) had its price objective upped by Stifel Nicolaus from $16.00 to $18.00 in a research report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Barclays lifted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.25.

Alignment Healthcare Stock Up 16.5 %

Alignment Healthcare stock opened at $15.69 on Friday. The company’s 50 day simple moving average is $13.50 and its 200 day simple moving average is $11.95. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $15.85. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -20.38 and a beta of 1.50. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Insider Transactions at Alignment Healthcare

In related news, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total transaction of $96,273.00. Following the transaction, the chief operating officer now directly owns 217,395 shares in the company, valued at approximately $2,447,867.70. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the transaction, the president now owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 441,002 shares of company stock valued at $5,772,726 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp increased 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 purchasing an additional 51,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 purchasing an additional 36,151 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $189,000. Squarepoint Ops LLC boosted its position 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 during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $258,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.