Alignment Healthcare (NASDAQ:ALHC) Stock Price Up 3% – Still a Buy?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) rose 3% during trading on Tuesday . The company traded as high as $16.43 and last traded at $16.57. Approximately 520,448 shares were traded during trading, a decline of 63% from the average daily volume of 1,399,858 shares. The stock had previously closed at $16.09.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of recent research reports. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barclays upped their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Bank of America upped 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. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Stock Up 2.7 %

The stock’s fifty day moving average price is $14.68 and its 200 day moving average price is $12.59. The stock has a market cap of $3.30 billion, a P/E ratio of -22.32 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Insider Transactions at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 13,815 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $233,335.35. Following the transaction, the chief financial officer now owns 1,482,595 shares of the company’s stock, valued at approximately $25,041,029.55. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at approximately $29,686,686. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,901,665 shares of company stock valued at $29,141,513 in the last quarter. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 149.8% during the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after purchasing an additional 51,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Alignment Healthcare by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after purchasing an additional 36,151 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Alignment Healthcare during the 4th quarter valued at $189,000. Squarepoint Ops LLC grew its holdings in shares of Alignment Healthcare by 414.6% during the 4th quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after purchasing an additional 159,774 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Alignment Healthcare during the 4th quarter valued at $258,000. Institutional investors 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.