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

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total value of $448,000.00. Following the sale, the insider now directly owns 320,444 shares of the company’s stock, valued at $4,101,683.20. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 shares were sold at an average price of $13.06, for a total value 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 transaction of $287,000.00.

Alignment Healthcare Stock Performance

Shares of ALHC stock traded down $0.22 during trading hours on Friday, reaching $12.61. 715,141 shares of the company’s stock were exchanged, compared to its average volume of 1,146,775. The business has a fifty day moving average price of $11.81 and a 200-day moving average price of $9.75. The stock has a market capitalization of $2.42 billion, a P/E ratio of -16.38 and a beta of 1.45. 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 fifty-two week low of $4.46 and a fifty-two week high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) EPS. Analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Alignment Healthcare in the 1st quarter valued at approximately $57,000. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare during the 3rd quarter worth approximately $95,000. Principal Financial Group Inc. increased its position 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. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare in the third quarter valued at $131,000. Finally, Creative Planning lifted its position in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ALHC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. UBS Group boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. TD Cowen raised their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.