Alignment Healthcare (NASDAQ:ALHC) Trading 5.7% Higher on Insider Buying Activity

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price shot up 5.7% on Wednesday following insider buying activity. The company traded as high as $14.44 and last traded at $14.42. 4,503,256 shares traded hands during trading, an increase of 14% from the average session volume of 3,955,654 shares. The stock had previously closed at $13.64.

Specifically, insider Mark D. Kent acquired 14,848 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $13.31 per share, with a total value of $197,626.88. Following the completion of the transaction, the insider directly owned 14,848 shares of the company’s stock, valued at $197,626.88. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

ALHC has been the topic of several research reports. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Raymond James Financial set a $22.00 target price on Alignment Healthcare in a research note on Thursday, May 7th. Barclays lowered their target price on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Finally, Wolfe Research started coverage on Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

Alignment Healthcare Stock Up 5.8%

The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 160.33, a P/E/G ratio of 1.86 and a beta of 1.14. The stock has a 50 day moving average of $18.57 and a 200 day moving average of $19.38. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, analysts expect that Alignment Healthcare, Inc. will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at approximately $26,000. Parallel Advisors LLC boosted its stake in Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after acquiring an additional 773 shares during the period. Larson Financial Group LLC acquired a new position in Alignment Healthcare in the third quarter valued at approximately $33,000. First Horizon Corp acquired a new position in Alignment Healthcare in the fourth quarter valued at approximately $39,000. Finally, GAMMA Investing LLC boosted its stake in Alignment Healthcare by 83.8% in the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after acquiring an additional 987 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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.