Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $17.99 and last traded at $17.52, with a volume of 4521 shares traded. The stock had previously closed at $17.61.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on ALHC shares. Bank of America boosted their target price 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. JPMorgan Chase & Co. upped their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. 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 issued a $17.00 price target 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 given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.
Read Our Latest Analysis on Alignment Healthcare
Alignment Healthcare Trading Down 0.2 %
The company has a market capitalization of $3.47 billion, a PE ratio of -23.51 and a beta of 1.49. The company has a fifty day simple moving average of $15.21 and a 200-day simple moving average of $12.91. 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 Activity at Alignment Healthcare
In related news, COO Sebastian Burzacchi sold 6,694 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the transaction, the chief operating officer now directly owns 250,378 shares in the company, valued at approximately $4,106,199.20. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert L. Scavo sold 5,313 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $15.43, for a total value of $81,979.59. Following the completion of the transaction, the insider now owns 668,106 shares of the company's stock, valued at $10,308,875.58. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,901,665 shares of company stock valued at $29,141,513. 6.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On Alignment Healthcare
Several large investors have recently modified their holdings of ALHC. Wellington Management Group LLP raised its holdings in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after buying an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Alignment Healthcare by 54.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Millennium Management LLC increased its position in shares of Alignment Healthcare by 588.3% during the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock valued at $38,122,000 after acquiring an additional 2,896,311 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $20,087,000. Finally, Broad Bay Capital Management LP acquired a new position in shares of Alignment Healthcare in the 4th quarter worth approximately $18,804,000. Institutional investors and hedge funds own 86.19% of the company's stock.
About Alignment Healthcare
(
Get Free Report)
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.
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