Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month High - What's Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $16.25 and last traded at $16.09, with a volume of 2672767 shares traded. The stock had previously closed at $15.79.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Piper Sandler increased their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Bank of America raised their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Finally, Barclays raised their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $14.83.

Remove Ads

Alignment Healthcare Stock Up 1.5 %

The business's fifty day simple moving average is $14.79 and its 200 day simple moving average is $12.63. 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 stock has a market cap of $3.35 billion, a price-to-earnings ratio of -22.66 and a beta of 1.49.

Insiders Place Their Bets

In other news, CEO John E. Kao sold 27,535 shares of Alignment Healthcare stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $465,066.15. Following the transaction, the chief executive officer now directly owns 4,991,717 shares of the company's stock, valued at $84,310,100.13. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Thomas Freeman sold 13,815 shares of Alignment Healthcare stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total transaction of $233,335.35. Following the transaction, the chief financial officer now directly owns 1,482,595 shares in the company, valued at approximately $25,041,029.55. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,901,665 shares of company stock valued at $29,141,513. Company insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in Alignment Healthcare in the 4th quarter valued at $55,000. RiverPark Advisors LLC bought a new stake in Alignment Healthcare during the 4th quarter worth about $106,000. Tower Research Capital LLC TRC lifted its position in Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after buying an additional 6,286 shares in the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Alignment Healthcare during the 3rd quarter worth about $131,000. 86.19% of the stock is owned by 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.