Alignment Healthcare (NASDAQ:ALHC) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of Alignment Healthcare (NASDAQ:ALHCGet Rating) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports.

Several other analysts have also issued reports on the company. Cowen boosted their target price on Alignment Healthcare from $12.00 to $17.00 in a research note on Monday, August 22nd. Barclays boosted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an overweight rating in a research note on Monday, August 8th. Piper Sandler restated an overweight rating and issued a $19.00 target price on shares of Alignment Healthcare in a research note on Thursday, September 8th. Morgan Stanley boosted their price objective on Alignment Healthcare from $18.00 to $19.00 and gave the company an overweight rating in a research note on Wednesday, August 10th. Finally, Cowen boosted their price objective on Alignment Healthcare from $12.00 to $17.00 and gave the company an outperform rating in a research note on Monday, August 22nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $18.55.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $11.57 on Monday. The firm has a market cap of $2.17 billion, a PE ratio of -14.83 and a beta of 1.94. The stock’s fifty day moving average price is $12.36 and its two-hundred day moving average price is $12.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.03 and a quick ratio of 2.03. Alignment Healthcare has a 1 year low of $6.14 and a 1 year high of $19.17.

Insider Buying and Selling

In related news, insider Dawn Christine Maroney sold 10,250 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $16.60, for a total transaction of $170,150.00. Following the completion of the transaction, the insider now directly owns 1,549,819 shares in the company, valued at $25,726,995.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Dawn Christine Maroney sold 10,250 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $16.60, for a total transaction of $170,150.00. Following the completion of the transaction, the insider now directly owns 1,549,819 shares in the company, valued at $25,726,995.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dinesh M. Kumar sold 20,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $12.03, for a total value of $240,600.00. Following the transaction, the insider now owns 1,187,226 shares of the company’s stock, valued at $14,282,328.78. The disclosure for this sale can be found here. Insiders sold a total of 7,124,244 shares of company stock worth $103,858,662 over the last ninety days. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Alignment Healthcare by 26.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,803 shares of the company’s stock worth $43,000 after purchasing an additional 803 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Alignment Healthcare by 15.8% in the 2nd quarter. US Bancorp DE now owns 6,704 shares of the company’s stock worth $76,000 after purchasing an additional 914 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Alignment Healthcare by 7.7% in the 1st quarter. Principal Financial Group Inc. now owns 14,524 shares of the company’s stock worth $163,000 after purchasing an additional 1,034 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Alignment Healthcare by 10.4% in the 1st quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock worth $107,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Alignment Healthcare by 5.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,579 shares of the company’s stock worth $372,000 after purchasing an additional 1,658 shares in the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

About Alignment Healthcare

(Get Rating)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.

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Analyst Recommendations for Alignment Healthcare (NASDAQ:ALHC)

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