Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Hakan Kardes Sells 35,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the sale, the insider now directly owns 320,444 shares in the company, valued at $4,101,683.20. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hakan Kardes also recently made the following trade(s):

• On Monday, November 4th, Hakan Kardes sold 20,500 shares of Alignment Healthcare stock. The stock was sold at an average price of $13.06, for a total transaction of $267,730.00.
• On Friday, November 1st, Hakan Kardes sold 4,500 shares of Alignment Healthcare stock. The shares were sold at an average price of $12.98, for a total transaction of $58,410.00.
• On Thursday, September 12th, Hakan Kardes sold 25,000 shares of Alignment Healthcare stock. The stock was sold at an average price of $11.48, for a total value of $287,000.00.

Alignment Healthcare Stock Down 1.7 %

Shares of Alignment Healthcare stock opened at $12.61 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -16.38 and a beta of 1.45. The company’s 50 day moving average is $11.81 and its 200 day moving average is $9.75.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. Research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in ALHC. Jacobs Levy Equity Management Inc. bought a new stake in Alignment Healthcare during the first quarter valued at approximately $918,000. Vanguard Group Inc. grew its position in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares during the period. Deerfield Management Company L.P. Series C increased its stake in shares of Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Alignment Healthcare by 27.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after purchasing an additional 82,559 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALHC. UBS Group lifted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. TD Cowen increased their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Barclays lifted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp began coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.33.

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.