Alignment Healthcare (NASDAQ:ALHC) Trading Up 3.8% – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price rose 3.8% during mid-day trading on Thursday . The company traded as high as $18.67 and last traded at $18.52. Approximately 771,336 shares traded hands during trading, a decline of 49% from the average daily volume of 1,520,045 shares. The stock had previously closed at $17.85.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Piper Sandler raised their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Stock Down 2.2 %

The stock has a market capitalization of $3.47 billion, a P/E ratio of -23.52 and a beta of 1.32. 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 firm has a 50-day simple moving average of $15.64 and a 200 day simple moving average of $13.22.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,273,100 shares of the company’s stock, valued at $29,686,686. This trade represents a 3.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher J. Joyce sold 25,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the transaction, the insider now directly owns 415,022 shares of the company’s stock, valued at approximately $7,665,456.34. This represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,981,855 shares of company stock worth $30,590,612 in the last quarter. 6.60% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Alignment Healthcare in the 4th quarter valued at $55,000. RiverPark Advisors LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at $106,000. Tower Research Capital LLC TRC boosted its position in 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 acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP bought a new position in shares of Alignment Healthcare in the 4th quarter worth about $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.