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 acquired 7,845 call options on the stock. This represents an increase of approximately 187% compared to the typical volume of 2,730 call options.

Alignment Healthcare Price Performance

NASDAQ:ALHC traded up $0.66 during trading hours on Tuesday, hitting $16.75. The company’s stock had a trading volume of 1,658,832 shares, compared to its average volume of 1,402,039. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $16.80. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The business’s 50-day moving average is $14.48 and its two-hundred day moving average is $12.51. The company has a market capitalization of $3.21 billion, a PE ratio of -21.77 and a beta of 1.49.

Insider Buying and Selling

In related news, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $15.99, for a total value of $479,700.00. Following the completion of the sale, the president now directly owns 2,417,700 shares of the company’s stock, valued at $38,659,023. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,829,454 shares of company stock worth $27,936,991 over the last 90 days. 6.60% of the stock is owned by insiders.

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. R Squared Ltd purchased a new stake in Alignment Healthcare during the fourth quarter worth about $55,000. RiverPark Advisors LLC purchased a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $106,000. Tower Research Capital LLC TRC grew its holdings in shares of Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares during the period. Ballentine Partners LLC purchased a new position in Alignment Healthcare in the 4th quarter valued at approximately $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alignment Healthcare during the third quarter worth $131,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALHC has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Bank of America boosted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report 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 report on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

About Alignment Healthcare

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.