Alignment Healthcare (NASDAQ:ALHC) Shares Up 3.8% – What’s Next?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) were up 3.8% on Thursday . The company traded as high as $18.67 and last traded at $18.52. Approximately 771,336 shares traded hands during trading, a decline of 49% from the average daily volume of 1,520,045 shares. The stock had previously closed at $17.85.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler raised their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barclays increased their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Finally, Bank of America lifted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Stock Performance

The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -23.52 and a beta of 1.32. The stock has a 50-day moving average of $15.64 and a 200-day moving average of $13.22. 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 Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 2,864 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $51,236.96. Following the transaction, the insider now owns 702,953 shares of the company’s stock, valued at $12,575,829.17. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher J. Joyce sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the transaction, the insider now owns 415,022 shares in the company, valued at approximately $7,665,456.34. The trade was a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,981,855 shares of company stock valued at $30,590,612 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of ALHC. R Squared Ltd acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare during the fourth quarter worth approximately $106,000. Tower Research Capital LLC TRC raised its position in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Alignment Healthcare during the fourth quarter worth approximately $121,000. Finally, Aigen Investment Management LP bought a new position in Alignment Healthcare during the 4th quarter worth $129,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.