Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Hakan Kardes Sells 4,500 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 4,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $12.98, for a total value of $58,410.00. Following the sale, the insider now directly owns 375,944 shares in the company, valued at approximately $4,879,753.12. This represents a 0.00 % 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.

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 value of $267,730.00.
• 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 Price Performance

Shares of Alignment Healthcare stock opened at $13.28 on Wednesday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -17.25 and a beta of 1.45. 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 stock has a 50 day moving average price of $10.89 and a 200-day moving average price of $8.90. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $13.45.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. During the same period in the previous year, the company earned ($0.19) EPS. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities analysts expect that Alignment Healthcare, Inc. will post -0.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. UBS Group lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp started coverage on Alignment Healthcare in a research note 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning grew its position in Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after purchasing an additional 2,077 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the last quarter. nVerses Capital LLC purchased a new position in Alignment Healthcare in the 3rd quarter worth about $95,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Alignment Healthcare by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after buying an additional 9,595 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

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.