Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month High – Still a Buy?

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week high during trading on Friday . The stock traded as high as $15.05 and last traded at $14.97, with a volume of 2057610 shares trading hands. The stock had previously closed at $14.57.

Wall Street Analysts Forecast Growth

ALHC has been the subject of several analyst reports. KeyCorp initiated coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. UBS Group increased their price objective 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. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Barclays increased their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average target price of $11.88.

Alignment Healthcare Trading Up 2.7 %

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 firm has a market capitalization of $2.87 billion, a P/E ratio of -19.44 and a beta of 1.45. The stock’s 50-day simple moving average is $12.06 and its two-hundred day simple moving average is $10.94.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. Alignment Healthcare’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) earnings per share. Equities research analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other news, Director Joseph S. Konowiecki sold 6,920 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $13.73, for a total transaction of $95,011.60. Following the completion of the sale, the director now owns 1,134,888 shares of the company’s stock, valued at $15,582,012.24. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hakan Kardes sold 10,500 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $14.99, for a total transaction of $157,395.00. Following the transaction, the insider now directly owns 309,944 shares in the company, valued at approximately $4,646,060.56. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 549,724 shares of company stock worth $6,965,685 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of ALHC. R Squared Ltd acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth $55,000. SG Americas Securities LLC raised its holdings in shares of Alignment Healthcare by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock worth $554,000 after acquiring an additional 5,163 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare during the 4th quarter worth about $121,000. JPMorgan Chase & Co. grew its stake in Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after acquiring an additional 205,705 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring an additional 180,522 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.