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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) reached a new 52-week high on Monday . The company traded as high as $24.40 and last traded at $24.3620, with a volume of 288041 shares trading hands. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

Several research firms have commented on ALHC. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a research note on Thursday, May 7th. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. UBS Group lifted their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Stock Performance

The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The company has a market cap of $4.97 billion, a PE ratio of 267.22, a P/E/G ratio of 3.32 and a beta of 1.05. The business’s fifty day moving average is $19.15 and its 200-day moving average is $19.79.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, research analysts predict that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $19.86, for a total transaction of $713,986.86. Following the completion of the sale, the insider owned 331,750 shares of the company’s stock, valued at approximately $6,588,555. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the completion of the sale, the executive vice president owned 1,103,816 shares of the company’s stock, valued at approximately $26,491,584. The trade was a 2.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,069,951 shares of company stock valued at $20,846,518 in the last ninety days. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter worth $26,000. Versant Capital Management Inc lifted its stake in shares of Alignment Healthcare by 463.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after buying an additional 773 shares during the period. Larson Financial Group LLC bought a new position in Alignment Healthcare in the 3rd quarter worth $33,000. Finally, First Horizon Corp bought a new position in Alignment Healthcare in the 4th quarter worth $39,000. 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.