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 that occurred on Friday, November 1st. The shares were sold at an average price of $12.98, for a total value of $58,410.00. Following the completion of the transaction, the insider now owns 375,944 shares of the company’s stock, valued at approximately $4,879,753.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 shares were sold at an average price of $11.48, for a total transaction of $287,000.00.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $13.28 on Wednesday. The firm has a market capitalization of $2.55 billion, a P/E ratio of -17.25 and a beta of 1.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $13.45. The business has a fifty day moving average of $10.89 and a 200 day moving average of $8.90.

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, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same period in the previous year, the company posted ($0.19) EPS. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on 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 target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Finally, Stifel Nicolaus boosted their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning increased its stake in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares in the last quarter. Principal Financial Group Inc. grew its holdings in 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 increased its position in 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 buying an additional 3,334 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the third quarter worth about $95,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of 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 currently owned by institutional investors.

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.