Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month High – Here’s What Happened

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $15.05 and last traded at $14.97, with a volume of 2057610 shares trading hands. The stock had previously closed at $14.57.

Analyst Ratings Changes

ALHC has been the subject of several research reports. UBS Group increased their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 2nd. Stifel Nicolaus upped their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp initiated coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $11.88.

Alignment Healthcare Trading Up 2.7 %

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a fifty day moving average of $12.13 and a 200-day moving average of $11.02. The company has a market cap of $2.87 billion, a PE ratio of -19.44 and a beta of 1.45.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 4,483 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total transaction of $53,840.83. Following the completion of the sale, the chief financial officer now owns 159,626 shares in the company, valued at $1,917,108.26. This represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the transaction, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 564,224 shares of company stock valued at $7,182,895. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of large investors have recently added to or reduced their stakes in ALHC. R Squared Ltd acquired a new stake in shares of Alignment Healthcare in the 4th quarter worth $55,000. nVerses Capital LLC acquired a new stake in Alignment Healthcare in the third quarter worth about $95,000. Ballentine Partners LLC acquired a new stake in Alignment Healthcare in the fourth quarter worth about $121,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alignment Healthcare during the third quarter worth about $131,000. Finally, Creative Planning increased its holdings in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.