Insider Buying: Alignment Healthcare (NASDAQ:ALHC) Insider Buys $197,626.88 in Stock

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

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $15.07 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $3.12 billion, a PE ratio of 167.44, a P/E/G ratio of 2.00 and a beta of 1.14. The business has a 50-day simple moving average of $18.39 and a two-hundred day simple moving average of $19.33. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on ALHC shares. UBS Group raised their price target on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wolfe Research began coverage on Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 target price for the company. Finally, Raymond James Financial set a $22.00 target price on Alignment Healthcare in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. Summit Securities Group LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $26,000. Parallel Advisors LLC increased its position in shares of Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after buying an additional 773 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $33,000. First Horizon Corp purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $39,000. Finally, GAMMA Investing LLC increased its position in shares of 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 buying an additional 987 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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.