Alignment Healthcare (NASDAQ:ALHC) Hits New 12-Month High at $9.22

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $9.22 and last traded at $9.00, with a volume of 332985 shares. The stock had previously closed at $8.87.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ALHC shares. Stephens upped their price objective on Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Stifel Nicolaus cut their price target on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Piper Sandler upgraded shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $8.00 in a research note on Wednesday, May 8th. Finally, Bank of America raised shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.11.

Alignment Healthcare Stock Performance

The stock’s 50 day moving average price is $7.63 and its 200-day moving average price is $6.64. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The firm’s revenue was up 43.1% compared to the same quarter last year. During the same period last year, the business posted ($0.20) EPS. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the sale, the insider now owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the sale, the insider now owns 1,956,097 shares in the company, valued at $16,059,556.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the transaction, the insider now directly owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,866 shares of company stock worth $307,360. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Jump Financial LLC purchased a new stake in shares of Alignment Healthcare during the fourth quarter valued at $575,000. Vanguard Group Inc. increased its holdings in shares of Alignment Healthcare by 3.7% in the third quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares during the period. Barlow Wealth Partners Inc. purchased a new position in shares of Alignment Healthcare in the fourth quarter worth about $100,000. Assenagon Asset Management S.A. lifted its holdings in shares of Alignment Healthcare by 283.9% during the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after purchasing an additional 233,417 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alignment Healthcare by 18.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after buying an additional 4,862 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.