Mark Kent Buys 14,848 Shares of Alignment Healthcare (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report) insider Mark Kent bought 14,848 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the acquisition, the insider directly owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alignment Healthcare Trading Up 4.5%

Alignment Healthcare stock opened at $14.25 on Thursday. 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 business’s fifty day simple moving average is $18.43 and its two-hundred day simple moving average is $19.34. Alignment Healthcare, Inc. has a 12 month low of $11.63 and a 12 month high of $23.87. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 158.33, a price-to-earnings-growth ratio of 1.91 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, equities analysts predict that Alignment Healthcare, Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALHC. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a report on Thursday, May 7th. Barclays lowered their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Wolfe Research began coverage on Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

Read Our Latest Stock Analysis on Alignment Healthcare

More Alignment Healthcare News

Here are the key news stories impacting Alignment Healthcare this week:

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently bought and sold shares of ALHC. Wellington Management Group LLP increased its position in Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after acquiring an additional 6,940,277 shares during the last quarter. Bank of New York Mellon Corp increased its position in Alignment Healthcare by 232.5% during the first quarter. Bank of New York Mellon Corp now owns 3,313,110 shares of the company’s stock valued at $58,377,000 after acquiring an additional 2,316,777 shares during the last quarter. Invesco Ltd. increased its position in Alignment Healthcare by 122.3% during the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after acquiring an additional 2,294,739 shares during the last quarter. Capital World Investors purchased a new stake in Alignment Healthcare during the fourth quarter valued at $44,203,000. Finally, Loomis Sayles & Co. L P purchased a new stake in Alignment Healthcare during the fourth quarter valued at $44,162,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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