Alignment Healthcare (NASDAQ:ALHC) Stock Price Up 3.8% - Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s stock price traded up 3.8% during trading on Thursday . The stock traded as high as $18.67 and last traded at $18.52. 771,336 shares traded hands during trading, a decline of 49% from the average session volume of 1,520,045 shares. The stock had previously closed at $17.85.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALHC. Stifel Nicolaus lifted their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday. Piper Sandler boosted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised 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. Barclays upped their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Friday, February 28th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.39.

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Alignment Healthcare Price Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business has a fifty day moving average of $15.83 and a 200 day moving average of $13.38. The stock has a market cap of $3.64 billion, a PE ratio of -24.61 and a beta of 1.32.

Insider Transactions at Alignment Healthcare

In other news, COO Sebastian Burzacchi sold 6,694 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $109,781.60. Following the transaction, the chief operating officer now owns 250,378 shares of the company's stock, valued at approximately $4,106,199.20. This trade represents a 2.60 % 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, CEO John E. Kao sold 554,713 shares of Alignment Healthcare stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the completion of the transaction, the chief executive officer now owns 4,733,664 shares of the company's stock, valued at $73,513,801.92. This trade represents a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,981,855 shares of company stock valued at $30,590,612. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently added to or reduced their stakes in ALHC. R Squared Ltd bought a new stake in shares of Alignment Healthcare during the 4th quarter valued at about $55,000. RiverPark Advisors LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at approximately $106,000. Tower Research Capital LLC TRC grew its holdings in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after purchasing an additional 6,286 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $121,000. Finally, Aigen Investment Management LP bought a new stake in shares of Alignment Healthcare in the 4th quarter worth approximately $129,000. Institutional investors own 86.19% of the company's stock.

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.