Alignment Healthcare Target of Unusually Large Options Trading (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 7,845 call options on the company. This is an increase of approximately 187% compared to the typical volume of 2,730 call options.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALHC. Bank of America lifted their price objective 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. Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. increased 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. Piper Sandler boosted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, Barclays upped their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $14.83.

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Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 27,535 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total transaction of $465,066.15. Following the completion of the sale, the chief executive officer now directly owns 4,991,717 shares in the company, valued at approximately $84,310,100.13. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the transaction, the president now directly owns 1,606,097 shares in the company, valued at $21,858,980.17. This represents a 1.83 % 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. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Alignment Healthcare by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company's stock valued at $110,453,000 after purchasing an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP grew its position in Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock worth $55,721,000 after buying an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC boosted its position in Alignment Healthcare by 49.5% during the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company's stock valued at $41,160,000 after buying an additional 1,211,727 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Stock Up 2.5 %

Shares of ALHC stock traded up $0.43 during trading hours on Friday, reaching $17.61. The company had a trading volume of 3,358,496 shares, compared to its average volume of 1,428,436. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -22.87 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $17.76. The business has a fifty day simple moving average of $14.90 and a 200-day simple moving average of $12.71.

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.