Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month High – Here’s What Happened

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.25 and last traded at $16.09, with a volume of 2672767 shares trading hands. The stock had previously closed at $15.79.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALHC. Barclays upped their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Bank of America raised their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Piper Sandler boosted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. Finally, Stifel Nicolaus boosted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Alignment Healthcare Stock Performance

The company has a fifty day moving average price of $14.38 and a two-hundred day moving average price of $12.46. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -20.90 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Insiders Place Their Bets

In other 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 sale, 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 transaction 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 business’s stock in a transaction on Wednesday, February 12th. The stock was 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 in the company, valued at $2,888,726.30. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,799,454 shares of company stock worth $27,457,291. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alignment Healthcare by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after buying an additional 2,154 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after acquiring an additional 2,937 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock worth $690,000 after purchasing an additional 3,256 shares during the period. Alliancebernstein L.P. grew its position in Alignment Healthcare by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in Alignment Healthcare by 15.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock valued at $388,000 after purchasing an additional 4,497 shares during the period. 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.