Alignment Healthcare (NASDAQ:ALHC) Hits New 12-Month High – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share 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. The stock had previously closed at $17.61.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. 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 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 note on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Piper Sandler upped 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. Finally, Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Alignment Healthcare Trading Up 0.7 %

The company’s fifty day simple moving average is $15.06 and its 200-day simple moving average is $12.84. The firm has a market capitalization of $3.37 billion, a PE ratio of -22.84 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.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 554,713 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the transaction, the chief executive officer now owns 4,733,664 shares in the company, valued at approximately $73,513,801.92. This trade represents a 10.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the sale, the president now directly owns 1,606,097 shares of the company’s stock, valued at $21,858,980.17. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,901,665 shares of company stock worth $29,141,513. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after buying an additional 3,257,630 shares in the last quarter. Mackenzie Financial Corp raised 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 worth $958,000 after acquiring an additional 51,084 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Alignment Healthcare by 15.9% in the fourth 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 period. Voloridge Investment Management LLC acquired a new stake in Alignment Healthcare during the fourth quarter worth about $189,000. Finally, Squarepoint Ops LLC raised its stake in Alignment Healthcare by 414.6% during the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after purchasing an additional 159,774 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.