Alignment Healthcare (NASDAQ:ALHC) Insider Mark Kent Buys 14,848 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Mark Kent bought 14,848 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average cost of $13.31 per share, with a total value of $197,626.88. Following the transaction, the insider owned 14,848 shares in the company, valued at approximately $197,626.88. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alignment Healthcare Trading Up 2.6%

ALHC traded up $0.34 during trading on Tuesday, hitting $13.64. 7,596,662 shares of the company’s stock were exchanged, compared to its average volume of 3,954,787. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $23.87. The stock has a 50 day moving average price of $18.57 and a 200 day moving average price of $19.38. The firm has a market cap of $2.82 billion, a P/E ratio of 151.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. As a group, analysts expect that Alignment Healthcare, Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALHC has been the subject of several analyst reports. Zacks Research raised Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Barclays reduced their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research report on Thursday, May 7th. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Wolfe Research began coverage on Alignment Healthcare in a research report on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at approximately $26,000. Parallel Advisors LLC grew its position in shares of Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after buying an additional 773 shares in the last quarter. Larson Financial Group LLC bought a new stake in shares of Alignment Healthcare in the third quarter worth $33,000. First Horizon Corp bought a new stake in shares of Alignment Healthcare in the fourth quarter worth $39,000. Finally, GAMMA Investing LLC raised its holdings in Alignment Healthcare by 83.8% in the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after acquiring an additional 987 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.