Alignment Healthcare (NASDAQ:ALHC) Sets New 12-Month High – Should You Buy?

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

Wall Street Analyst Weigh In

Several equities analysts have commented on ALHC shares. Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Finally, Piper Sandler raised their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Stock Performance

The company has a 50-day moving average price of $15.28 and a two-hundred day moving average price of $13.01. 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 stock has a market capitalization of $3.61 billion, a P/E ratio of -24.39 and a beta of 1.49.

Insider Buying and Selling at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at approximately $29,686,686. This represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total transaction of $408,300.00. Following the sale, the president now owns 1,606,097 shares of the company’s stock, valued at approximately $21,858,980.17. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,956,855 shares of company stock valued at $30,128,862 in the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Alignment Healthcare by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $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% in 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 buying an additional 3,059,596 shares during the period. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 77.9% during the 4th 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 during the period. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 39.6% during 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 purchasing an additional 1,405,212 shares during the period. Finally, 8 Knots Management LLC grew its position in shares of Alignment Healthcare by 49.5% in the 4th 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 during the last quarter. Hedge funds and other 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.