Alignment Healthcare (NASDAQ:ALHC) Hits New 52-Week High – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares hit a new 52-week high during trading on Monday . The stock traded as high as $17.99 and last traded at $17.52, with a volume of 4521 shares trading hands. The stock had previously closed at $17.61.

Analysts Set New Price Targets

Several brokerages have commented on ALHC. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Barclays increased their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Stifel Nicolaus increased 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. Finally, Piper Sandler raised their price target on 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 issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $14.83.

Alignment Healthcare Trading Down 0.3 %

The stock has a fifty day moving average of $14.90 and a 200 day moving average of $12.73. The company has a market capitalization of $3.37 billion, a P/E ratio of -22.78 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 13,815 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total transaction of $233,335.35. Following the sale, the chief financial officer now directly owns 1,482,595 shares of the company’s stock, valued at $25,041,029.55. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sebastian Burzacchi sold 6,694 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $109,781.60. Following the sale, the chief operating officer now directly owns 250,378 shares in the company, valued at approximately $4,106,199.20. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,901,665 shares of company stock valued at $29,141,513 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after purchasing an additional 2,154 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after purchasing an additional 2,937 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock worth $690,000 after purchasing an additional 3,256 shares during the last quarter. Alliancebernstein L.P. grew its position in Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock worth $388,000 after acquiring an additional 4,497 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

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.