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

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw some unusual options trading on Tuesday. Investors purchased 7,845 call options on the stock. This is an increase of approximately 187% compared to the typical daily volume of 2,730 call options.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, insider Andreas P. Wagner sold 14,878 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the transaction, the insider now owns 200,885 shares of the company’s stock, valued at approximately $2,888,726.30. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at approximately $29,686,686. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,829,454 shares of company stock valued at $27,936,991 over the last 90 days. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Alignment Healthcare by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after acquiring an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP increased its stake in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC increased its stake in Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after acquiring an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC increased its stake in Alignment Healthcare by 49.5% in the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after acquiring an additional 1,211,727 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $16.74 on Wednesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $17.24. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -21.74 and a beta of 1.49. The business’s fifty day moving average is $14.58 and its 200 day moving average is $12.56.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler boosted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Barclays boosted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Stifel Nicolaus boosted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

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.