Alignment Healthcare (NASDAQ:ALHC) Reaches New 52-Week High – Here’s Why

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week high on Monday . The company traded as high as $24.40 and last traded at $24.3620, with a volume of 288041 shares changing hands. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James Financial set a $22.00 price objective on shares of Alignment Healthcare in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Barclays reduced their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Finally, Zacks Research upgraded shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $24.30.

Alignment Healthcare Trading Up 2.8%

The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 271.94, a price-to-earnings-growth ratio of 3.21 and a beta of 1.05. The business has a 50 day simple moving average of $19.02 and a 200-day simple moving average of $19.73.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. On average, equities analysts predict that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of Alignment Healthcare stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the transaction, the insider owned 331,750 shares in the company, valued at $6,588,555. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the sale, the chief executive officer directly owned 1,386,766 shares of the company’s stock, valued at $28,234,555.76. This represents a 17.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,331,051 shares of company stock worth $26,333,006. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALHC. Versant Capital Management Inc boosted its holdings in Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares during the last quarter. Bank of America Corp DE increased its stake in Alignment Healthcare by 156.5% during the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock worth $56,660,000 after acquiring an additional 1,961,778 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Alignment Healthcare in the 1st quarter worth about $4,852,000. California State Teachers Retirement System raised its holdings in shares of Alignment Healthcare by 25.4% in the 1st quarter. California State Teachers Retirement System now owns 198,200 shares of the company’s stock worth $3,492,000 after purchasing an additional 40,135 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Alignment Healthcare by 442.2% in the 1st quarter. Quantinno Capital Management LP now owns 89,387 shares of the company’s stock valued at $1,575,000 after purchasing an additional 72,900 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.