Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s stock price rose 3% on Tuesday . The company traded as high as $16.43 and last traded at $16.57. Approximately 520,448 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,399,858 shares. The stock had previously closed at $16.09.
Analyst Ratings Changes
ALHC has been the subject of a number of analyst reports. Stephens reissued an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. Stifel Nicolaus increased their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Bank of America upped 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. Finally, Barclays upped their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $14.83.
Get Our Latest Stock Analysis on Alignment Healthcare
Alignment Healthcare Stock Performance
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 50-day simple moving average of $14.90 and a two-hundred day simple moving average of $12.71. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -22.87 and a beta of 1.49.
Insider Activity
In other Alignment Healthcare news, 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 value of $233,335.35. Following the completion of the transaction, the chief financial officer now owns 1,482,595 shares in the company, valued at approximately $25,041,029.55. The trade was a 0.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the sale, the chief executive officer now directly owns 2,273,100 shares of the company's stock, valued at approximately $29,686,686. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,901,665 shares of company stock valued at $29,141,513. Insiders own 6.60% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ALHC. Principal Financial Group Inc. raised its position in shares of Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock valued at $2,294,000 after purchasing an additional 180,522 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare during the 3rd quarter worth about $131,000. Intech Investment Management LLC bought a new position in shares of Alignment Healthcare during the 3rd quarter worth about $315,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Alignment Healthcare by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company's stock valued at $9,925,000 after purchasing an additional 13,865 shares during the last quarter. Finally, Algert Global LLC grew its position in Alignment Healthcare by 44.8% during the third quarter. Algert Global LLC now owns 80,903 shares of the company's stock valued at $956,000 after buying an additional 25,050 shares during the period. Institutional investors and hedge funds 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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