Alignment Healthcare (NASDAQ:ALHC) Trading 5.7% Higher on Insider Buying Activity

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) rose 5.7% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $14.44 and last traded at $14.42. Approximately 4,503,256 shares were traded during trading, an increase of 14% from the average daily volume of 3,955,654 shares. The stock had previously closed at $13.64.

Specifically, insider Mark D. Kent purchased 14,848 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of $13.31 per share, with a total value of $197,626.88. Following the completion of the acquisition, the insider owned 14,848 shares in the company, valued at approximately $197,626.88. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Barclays cut their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Alignment Healthcare Stock Performance

The stock has a market cap of $2.98 billion, a P/E ratio of 160.33, a PEG ratio of 1.86 and a beta of 1.14. The company has a fifty day moving average of $18.57 and a 200 day moving average of $19.38. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58.

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

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. Summit Securities Group LLC bought a new stake in Alignment Healthcare during the fourth quarter worth approximately $26,000. Parallel Advisors LLC increased its holdings 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 bought a new position in shares of Alignment Healthcare in the third quarter valued at $33,000. First Horizon Corp bought a new position in shares of Alignment Healthcare in the fourth quarter valued at $39,000. Finally, GAMMA Investing LLC increased its holdings 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. 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.