Alignment Healthcare (NASDAQ:ALHC) Reaches New 52-Week High - Should You Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $14.61 and last traded at $14.55, with a volume of 2264471 shares trading hands. The stock had previously closed at $13.90.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ALHC shares. Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Stephens restated an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. Barclays upped their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Wednesday, October 30th. Finally, KeyCorp assumed coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a "sector weight" rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.88.

Alignment Healthcare Stock Up 0.7 %

The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market cap of $2.81 billion, a PE ratio of -18.98 and a beta of 1.45. The business's 50-day simple moving average is $11.92 and its 200 day simple moving average is $10.71.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts' consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Alignment Healthcare's revenue for the quarter was up 51.6% compared to the same quarter last year. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, COO Sebastian Burzacchi sold 8,550 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total transaction of $96,273.00. Following the transaction, the chief operating officer now directly owns 217,395 shares of the company's stock, valued at approximately $2,447,867.70. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Thomas Freeman sold 4,483 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the sale, the chief financial officer now directly owns 159,626 shares of the company's stock, valued at $1,917,108.26. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 509,224 shares of company stock valued at $6,399,990. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in ALHC. Creative Planning increased its stake in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company's stock worth $147,000 after acquiring an additional 2,072 shares during the period. SG Americas Securities LLC grew its stake in shares of Alignment Healthcare by 11.7% during the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock worth $554,000 after purchasing an additional 5,163 shares during the period. nVerses Capital LLC purchased a new stake in Alignment Healthcare during the third quarter worth $95,000. The Manufacturers Life Insurance Company increased its holdings in Alignment Healthcare by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company's stock valued at $434,000 after buying an additional 9,595 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare during the 4th quarter valued at about $121,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.