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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $18.48 and last traded at $18.40, with a volume of 885273 shares trading hands. The stock had previously closed at $18.30.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Bank of America boosted their target price on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus raised their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Alignment Healthcare Stock Performance

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market cap of $3.47 billion, a P/E ratio of -23.48 and a beta of 1.49. The business has a fifty day simple moving average of $15.43 and a 200-day simple moving average of $13.11.

Insider Buying and Selling

In other news, insider Andreas P. Wagner sold 14,878 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at $2,888,726.30. The trade was a 6.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the company’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 value of $1,175,400.00. Following the completion of the sale, the chief executive officer now owns 2,273,100 shares in the company, valued at $29,686,686. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,956,855 shares of company stock worth $30,128,862 in the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. Mackenzie Financial Corp increased its stake in Alignment Healthcare by 149.8% during the 4th 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alignment Healthcare by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after purchasing an additional 36,151 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Alignment Healthcare in the fourth quarter worth about $189,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Alignment Healthcare by 414.6% in the fourth quarter. Squarepoint Ops LLC now owns 198,309 shares of the company’s stock worth $2,231,000 after buying an additional 159,774 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

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.