Alignment Healthcare (NASDAQ:ALHC) Reaches New 52-Week High – Here’s Why

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price hit a new 52-week high on Monday . The stock traded as high as $21.68 and last traded at $21.3650, with a volume of 1404044 shares trading hands. The stock had previously closed at $20.78.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALHC shares. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group lifted their price target on Alignment Healthcare from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Barclays upped their target price on shares of Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. increased their target price on Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.25.

Alignment Healthcare Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99. The firm’s 50-day moving average is $18.71 and its 200 day moving average is $16.58.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. The company had revenue of $993.70 million during the quarter, compared to analyst estimates of $980.90 million. During the same quarter in the previous year, the business posted ($0.14) EPS. Alignment Healthcare’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Hyong Kim sold 16,506 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $21.35, for a total value of $352,403.10. Following the completion of the sale, the insider owned 333,133 shares in the company, valued at $7,112,389.55. The trade was a 4.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher J. Joyce sold 10,611 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $20.03, for a total transaction of $212,538.33. Following the sale, the insider owned 297,088 shares of the company’s stock, valued at approximately $5,950,672.64. The trade was a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,918,532 shares of company stock valued at $36,505,338. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its holdings in Alignment Healthcare by 148.5% in the 4th quarter. SG Americas Securities LLC now owns 60,390 shares of the company’s stock worth $1,193,000 after purchasing an additional 36,084 shares during the period. Assenagon Asset Management S.A. increased its holdings in Alignment Healthcare by 6,708.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company’s stock valued at $35,056,000 after acquiring an additional 1,748,903 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Alignment Healthcare by 17.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,438 shares of the company’s stock valued at $414,000 after buying an additional 2,909 shares in the last quarter. GAMMA Investing LLC raised its stake in Alignment Healthcare by 83.8% during the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after purchasing an additional 987 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in shares of Alignment Healthcare in the 3rd quarter worth $186,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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.