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

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $15.05 and last traded at $14.97, with a volume of 2057610 shares changing hands. The stock had previously closed at $14.57.

Wall Street Analyst Weigh In

ALHC has been the topic of several recent analyst reports. UBS Group lifted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays increased their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. KeyCorp began coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Thursday, January 2nd. Finally, Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Stock Up 2.7 %

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 market capitalization of $2.87 billion, a P/E ratio of -19.44 and a beta of 1.45. The stock’s fifty day simple moving average is $12.06 and its two-hundred day simple moving average is $10.94.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. Alignment Healthcare’s revenue was up 51.6% on a year-over-year basis. As a group, research analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total transaction of $408,300.00. Following the completion of the sale, the president now directly owns 1,606,097 shares in the company, valued at approximately $21,858,980.17. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hakan Kardes sold 4,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $12.98, for a total transaction of $58,410.00. Following the completion of the sale, the insider now owns 375,944 shares of the company’s stock, valued at $4,879,753.12. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 549,724 shares of company stock worth $6,965,685. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd bought a new stake in Alignment Healthcare in the fourth quarter worth $55,000. SG Americas Securities LLC raised its holdings in Alignment Healthcare by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock worth $554,000 after purchasing an additional 5,163 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at about $121,000. JPMorgan Chase & Co. increased its holdings in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after acquiring an additional 205,705 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after buying an additional 180,522 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

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.