Alignment Healthcare (NASDAQ:ALHC) Insider Mark Kent Buys 14,848 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report) insider Mark Kent purchased 14,848 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average price of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the purchase, the insider directly owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Alignment Healthcare Stock Up 2.6%

Shares of NASDAQ:ALHC opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $2.82 billion, a PE ratio of 151.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The firm’s 50-day moving average is $18.57 and its two-hundred day moving average is $19.38. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $23.87.

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wolfe Research started coverage on shares of Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Barclays lowered their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price objective on Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Finally, Raymond James Financial set a $22.00 price objective on Alignment Healthcare in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Check Out Our Latest Report on ALHC

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its position in shares of Alignment Healthcare by 8.9% during the fourth quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock worth $137,000 after buying an additional 566 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Alignment Healthcare by 6.0% in the fourth quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company’s stock valued at $223,000 after purchasing an additional 636 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Alignment Healthcare by 6.3% in the third quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock valued at $196,000 after purchasing an additional 665 shares in the last quarter. Parallel Advisors LLC boosted its holdings 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 purchasing an additional 773 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Alignment Healthcare by 2.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,752 shares of the company’s stock valued at $659,000 after purchasing an additional 844 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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