Alignment Healthcare (NASDAQ:ALHC) Trading 5% Higher – Still a Buy?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) traded up 5% during trading on Monday . The stock traded as high as $13.90 and last traded at $13.84. 1,406,501 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 1,784,936 shares. The stock had previously closed at $13.18.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays increased their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday. Stifel Nicolaus upped their target price on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.88.

Alignment Healthcare Stock Up 3.4 %

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50 day moving average of $13.19 and a 200 day moving average of $11.80. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -17.70 and a beta of 1.50.

Insider Activity

In related news, COO Sebastian Burzacchi sold 8,550 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the transaction, the chief operating officer now directly owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. This represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hakan Kardes sold 10,500 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $14.99, for a total transaction of $157,395.00. Following the completion of the sale, the insider now directly owns 309,944 shares in the company, valued at approximately $4,646,060.56. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 476,002 shares of company stock worth $6,220,726. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $55,000. RiverPark Advisors LLC acquired a new stake in Alignment Healthcare during the 4th quarter valued at $106,000. Tower Research Capital LLC TRC increased its holdings in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after purchasing an additional 6,286 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP acquired a new position in Alignment Healthcare in the 4th quarter valued at about $129,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.