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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Zacks Research raised shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wolfe Research assumed coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 price target for the company. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Stock Performance

The company has a market cap of $5.06 billion, a PE ratio of 271.94, a P/E/G ratio of 3.21 and a beta of 1.05. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The stock’s 50-day simple moving average is $19.02 and its 200 day simple moving average is $19.73.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion for 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 business’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities analysts anticipate that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling

In other Alignment Healthcare news, EVP Joseph S. Konowiecki sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total transaction of $600,000.00. Following the transaction, the executive vice president owned 1,103,816 shares in the company, valued at approximately $26,491,584. The trade was a 2.21% decrease in their position. 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, insider Hyong Kim sold 35,951 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $19.86, for a total value of $713,986.86. Following the transaction, the insider directly owned 331,750 shares of the company’s stock, valued at approximately $6,588,555. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,331,051 shares of company stock worth $26,333,006 in the last three months. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP acquired a new stake in shares of Alignment Healthcare in the 3rd quarter worth approximately $4,581,000. 1492 Capital Management LLC increased its stake in Alignment Healthcare by 61.8% in the 4th quarter. 1492 Capital Management LLC now owns 324,865 shares of the company’s stock valued at $6,416,000 after purchasing an additional 124,143 shares in the last quarter. Cinctive Capital Management LP acquired a new position in Alignment Healthcare during the third quarter worth $3,814,000. Assenagon Asset Management S.A. raised its holdings in Alignment Healthcare by 6,708.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company’s stock worth $35,056,000 after purchasing an additional 1,748,903 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in Alignment Healthcare during the fourth quarter worth $39,500,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.