Alignment Healthcare (NASDAQ:ALHC) Sets New 12-Month High – What’s Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $16.25 and last traded at $16.09, with a volume of 2672767 shares changing hands. The stock had previously closed at $15.79.

Analysts Set New Price Targets

Several research firms have weighed in on ALHC. Barclays increased their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Stifel Nicolaus boosted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Bank of America lifted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Stock Performance

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 50-day moving average of $14.58 and a 200-day moving average of $12.56. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -21.73 and a beta of 1.49.

Insider Activity

In related news, CEO John E. Kao sold 554,713 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the transaction, the chief executive officer now directly owns 4,733,664 shares in the company, valued at approximately $73,513,801.92. The trade was a 10.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Thomas Freeman sold 250,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total transaction of $3,895,000.00. Following the sale, the chief financial officer now directly owns 1,635,849 shares of the company’s stock, valued at $25,486,527.42. The trade was a 13.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,829,454 shares of company stock worth $27,936,991 over the last ninety days. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of large investors have recently made changes to their positions in ALHC. Vanguard Group Inc. boosted its stake in Alignment Healthcare by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock valued at $110,453,000 after purchasing an additional 166,837 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Alignment Healthcare by 54.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the period. Wellington Management Group LLP raised its position in shares of Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after buying an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after buying an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC grew its position in Alignment Healthcare by 49.5% during the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after buying an additional 1,211,727 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

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.