Alignment Healthcare (NASDAQ:ALHC) Sets New 52-Week High – Here’s What Happened

Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.87 and last traded at $23.81, with a volume of 2814345 shares. The stock had previously closed at $23.81.

Analyst Upgrades and Downgrades

ALHC has been the topic of a number of analyst reports. Wall Street Zen cut shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Alignment Healthcare in a research report on Monday, November 3rd. Piper Sandler increased their price objective on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Finally, KeyCorp restated an “overweight” rating and issued a $28.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Alignment Healthcare Stock Up 5.3%

The company has a market capitalization of $4.42 billion, a PE ratio of -184.00, a P/E/G ratio of 5.52 and a beta of 1.16. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61. The company’s 50-day moving average is $20.24 and its 200 day moving average is $17.35.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $993.70 million for the quarter, compared to analysts’ expectations of $980.90 million. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. The business’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) earnings per share. As a group, analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 180,000 shares of Alignment Healthcare stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $21.11, for a total value of $3,799,800.00. Following the completion of the sale, the chief executive officer directly owned 2,832,641 shares in the company, valued at approximately $59,797,051.51. This trade represents a 5.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider owned 297,088 shares in the company, valued at $5,950,672.64. This represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,103,532 shares of company stock valued at $40,529,538 over the last three months. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. State of Alaska Department of Revenue grew its position in Alignment Healthcare by 6.0% in the 4th quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company’s stock worth $223,000 after purchasing an additional 636 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Alignment Healthcare by 6.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock worth $196,000 after buying an additional 665 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Alignment Healthcare by 2.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,752 shares of the company’s stock worth $659,000 after acquiring an additional 844 shares during the period. Tidal Investments LLC increased its position in Alignment Healthcare by 4.9% during the second quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock valued at $253,000 after acquiring an additional 852 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 acquiring an additional 987 shares during the last quarter. 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.