Alignment Healthcare (NASDAQ:ALHC) Hits New 52-Week High – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.99 and last traded at $17.52, with a volume of 4521 shares trading hands. The stock had previously closed at $17.61.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALHC shares. Stifel Nicolaus boosted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Piper Sandler boosted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Bank of America boosted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Alignment Healthcare Stock Performance

The firm’s fifty day simple moving average is $14.90 and its 200 day simple moving average is $12.73. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $3.37 billion, a PE ratio of -22.78 and a beta of 1.49.

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 27,535 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $465,066.15. Following the completion of the transaction, the chief executive officer now owns 4,991,717 shares in the company, valued at $84,310,100.13. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the transaction, the insider now owns 200,885 shares of the company’s stock, valued at approximately $2,888,726.30. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,901,665 shares of company stock valued at $29,141,513 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALHC. R Squared Ltd acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $55,000. RiverPark Advisors LLC acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $106,000. Tower Research Capital LLC TRC raised its holdings in Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $121,000. Finally, Aigen Investment Management LP acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $129,000. Institutional investors and hedge funds 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.