Alignment Healthcare (NASDAQ:ALHC) Trading Up 3.8% – What’s Next?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price shot up 3.8% during trading on Thursday . The company traded as high as $18.67 and last traded at $18.52. 771,336 shares traded hands during trading, a decline of 49% from the average session volume of 1,520,045 shares. The stock had previously closed at $17.85.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Stock Up 3.7 %

The company has a market capitalization of $3.55 billion, a P/E ratio of -24.04 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a 50 day moving average price of $15.50 and a 200 day moving average price of $13.14.

Insider Activity

In other news, insider Andreas P. Wagner sold 14,878 shares of Alignment Healthcare stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total transaction of $213,945.64. Following the transaction, the insider now owns 200,885 shares in the company, valued at approximately $2,888,726.30. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher J. Joyce sold 25,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the completion of the sale, the insider now owns 415,022 shares of the company’s stock, valued at $7,665,456.34. The trade was a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,981,855 shares of company stock valued at $30,590,612. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alignment Healthcare by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after buying an additional 2,154 shares during the period. Rhumbline Advisers raised its position in shares of Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after acquiring an additional 2,937 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after purchasing an additional 3,256 shares during the period. Alliancebernstein L.P. boosted its position in shares of Alignment Healthcare by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Alignment Healthcare by 15.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock worth $388,000 after purchasing an additional 4,497 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare

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.