Alignment Healthcare (NASDAQ:ALHC) Sets New 1-Year High After Analyst Upgrade

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price hit a new 52-week high during trading on Saturday after Stifel Nicolaus raised their price target on the stock from $16.00 to $18.00. Stifel Nicolaus currently has a buy rating on the stock. Alignment Healthcare traded as high as $15.85 and last traded at $15.69, with a volume of 4768834 shares changing hands. The stock had previously closed at $13.47.

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

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the transaction, the chief executive officer now directly owns 2,363,100 shares in the company, valued at $27,530,115. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andreas P. Wagner sold 14,878 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total value of $213,945.64. Following the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at approximately $2,888,726.30. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 441,002 shares of company stock worth $5,772,726. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Alignment Healthcare during the 4th quarter worth approximately $55,000. RiverPark Advisors LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at $106,000. Tower Research Capital LLC TRC grew its holdings in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at about $121,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth approximately $129,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

The stock has a market capitalization of $3.01 billion, a PE ratio of -20.38 and a beta of 1.50. 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 stock’s 50-day moving average is $13.50 and its 200 day moving average is $11.99.

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.