Alignment Healthcare (NASDAQ:ALHC) Sets New 12-Month High – What’s Next?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) reached a new 52-week high on Friday . The stock traded as high as $14.61 and last traded at $14.55, with a volume of 2264471 shares trading hands. The stock had previously closed at $13.90.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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. KeyCorp assumed coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group lifted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 2nd. Finally, Stifel Nicolaus raised their price target on Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.88.

Alignment Healthcare Stock Performance

The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -18.94 and a beta of 1.45. The company has a 50-day moving average price of $11.94 and a 200-day moving average price of $10.78. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) EPS. As a group, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total value of $408,300.00. Following the sale, the president now owns 1,606,097 shares of the company’s stock, valued at approximately $21,858,980.17. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Sebastian Burzacchi sold 8,550 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the transaction, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at $2,447,867.70. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 539,224 shares of company stock worth $6,808,290 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning grew its stake in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the last quarter. SG Americas Securities LLC grew its position in Alignment Healthcare by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock worth $554,000 after buying an additional 5,163 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare during the third quarter valued at $95,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after purchasing an additional 9,595 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $121,000. 86.19% of the stock is currently owned by institutional investors.

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.