Alignment Healthcare (NASDAQ:ALHC) Hits New 12-Month High at $10.98

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.98 and last traded at $10.98, with a volume of 8044 shares. The stock had previously closed at $10.75.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALHC. Barclays raised their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their price target for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. Robert W. Baird raised their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.83.

Alignment Healthcare Trading Up 1.9 %

The company’s 50-day moving average price is $9.00 and its 200-day moving average price is $7.20. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -12.80 and a beta of 1.43. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share. Equities analysts expect that Alignment Healthcare, Inc. will post -0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christopher J. Joyce sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the sale, the insider now directly owns 422,912 shares of the company’s stock, valued at approximately $3,387,525.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher J. Joyce sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the sale, the insider now directly owns 422,912 shares of the company’s stock, valued at approximately $3,387,525.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dawn Christine Maroney sold 36,700 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $367,367.00. Following the completion of the sale, the insider now directly owns 1,816,097 shares in the company, valued at $18,179,130.97. The disclosure for this sale can be found here. Insiders have sold 237,778 shares of company stock valued at $2,267,856 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALHC. Virtu Financial LLC acquired a new position in shares of Alignment Healthcare in the first quarter valued at approximately $57,000. Principal Financial Group Inc. acquired a new stake in shares of Alignment Healthcare in the 1st quarter valued at $57,000. Victory Capital Management Inc. raised its holdings in shares of Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares in the last quarter. Aigen Investment Management LP increased its holdings in Alignment Healthcare by 18.5% in the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after buying an additional 3,092 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Alignment Healthcare by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares during the last quarter. Institutional investors and hedge funds 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.