Alignment Healthcare (NASDAQ:ALHC) Reaches New 1-Year High – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price hit a new 52-week high during mid-day 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 Analysts Forecast Growth

ALHC has been the topic of a number of analyst reports. Barclays increased their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Bank of America lifted their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Piper Sandler upped their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Stock Up 1.9 %

The firm has a market capitalization of $3.09 billion, a PE ratio of -20.90 and a beta of 1.49. 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 moving average of $14.38 and a two-hundred day moving average of $12.46.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 250,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $15.58, for a total value of $3,895,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,635,849 shares of the company’s stock, valued at $25,486,527.42. This represents a 13.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total value of $1,175,400.00. Following the sale, the chief executive officer now directly owns 2,273,100 shares in the company, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,799,454 shares of company stock worth $27,457,291. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its stake in Alignment Healthcare by 149.8% during the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after purchasing an additional 51,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alignment Healthcare by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock worth $2,961,000 after acquiring an additional 36,151 shares during the period. Voloridge Investment Management LLC bought a new position in Alignment Healthcare in the fourth quarter worth about $189,000. Squarepoint Ops LLC grew its holdings in shares of Alignment Healthcare by 414.6% during the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock valued at $2,231,000 after purchasing an additional 159,774 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $258,000. 86.19% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare

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.