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

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the insider now owns 320,444 shares in the company, valued at approximately $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 can be accessed through 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 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 shares were sold at an average price of $11.48, for a total transaction of $287,000.00.

Alignment Healthcare Trading Down 1.7 %

Shares of Alignment Healthcare stock traded down $0.22 on Friday, reaching $12.61. 715,141 shares of the company were exchanged, compared to its average volume of 1,146,775. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $14.25. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -16.38 and a beta of 1.45. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a fifty day moving average price of $11.81 and a 200-day moving average price of $9.75.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. On average, analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

ALHC has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Barclays lifted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, TD Cowen raised their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Alignment Healthcare in the 1st quarter valued at about $57,000. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare during the third quarter worth approximately $95,000. Principal Financial Group Inc. grew its position 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alignment Healthcare in the 3rd quarter worth approximately $131,000. Finally, Creative Planning lifted its position in 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 buying an additional 2,072 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other 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.