Alignment Healthcare Target of Unusually High Options Trading (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the recipient of unusually large options trading on Tuesday. Traders purchased 7,845 call options on the company. This represents an increase of 187% compared to the typical volume of 2,730 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALHC shares. Piper Sandler increased their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stifel Nicolaus increased their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Finally, Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Insider Transactions at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 250,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $3,895,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,635,849 shares in the company, valued at approximately $25,486,527.42. This represents a 13.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the transaction, the president now owns 1,606,097 shares of the company’s stock, valued at $21,858,980.17. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,829,454 shares of company stock worth $27,936,991. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alignment Healthcare by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock valued at $641,000 after purchasing an additional 2,154 shares during the last quarter. 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 raised its position 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 worth $690,000 after acquiring an additional 3,256 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Alignment Healthcare by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Alignment Healthcare by 15.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock worth $388,000 after acquiring an additional 4,497 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 4.0 %

ALHC opened at $16.74 on Wednesday. The business has a 50 day simple moving average of $14.58 and a two-hundred day simple moving average of $12.56. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -21.74 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare has a one year low of $4.46 and a one year high of $17.24.

Alignment Healthcare Company Profile

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.