Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $18.48 and last traded at $18.40, with a volume of 885273 shares changing hands. The stock had previously closed at $18.30.
Analyst Ratings Changes
A number of research analysts have commented on ALHC shares. Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Barclays boosted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Piper Sandler raised their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Finally, Stifel Nicolaus increased their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alignment Healthcare has a consensus rating of "Moderate Buy" and an average target price of $14.83.
Read Our Latest Stock Analysis on Alignment Healthcare
Alignment Healthcare Trading Up 2.1 %
The company's fifty day moving average is $15.50 and its two-hundred day moving average is $13.14. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -23.60 and a beta of 1.49.
Insider Buying and Selling at Alignment Healthcare
In other Alignment Healthcare news, insider Christopher J. Joyce sold 25,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the sale, the insider now directly owns 415,022 shares of the company's stock, valued at $7,665,456.34. The trade was a 5.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert L. Scavo sold 2,864 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares of the company's stock, valued at approximately $12,575,829.17. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,981,855 shares of company stock valued at $30,590,612. Insiders own 6.60% of the company's stock.
Institutional Investors Weigh In On Alignment Healthcare
Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company's stock valued at $641,000 after purchasing an additional 2,154 shares during the last quarter. Rhumbline Advisers grew 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 buying an additional 2,937 shares during the last quarter. MetLife Investment Management LLC raised its stake in Alignment Healthcare by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock worth $690,000 after acquiring an additional 3,256 shares in the last quarter. Alliancebernstein L.P. raised its stake 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 acquiring an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock valued at $388,000 after acquiring an additional 4,497 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.
Alignment Healthcare Company Profile
(
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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