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 company’s stock in a transaction that occurred on 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 transaction, the insider now owns 320,444 shares of the company’s stock, valued at approximately $4,101,683.20. The trade was 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 value 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 NASDAQ:ALHC opened at $12.61 on Friday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -16.38 and a beta of 1.45. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.25. 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 company has a 50-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) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analyst estimates 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 company earned ($0.19) EPS. As a group, equities research analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Alignment Healthcare during the 1st quarter worth about $57,000. nVerses Capital LLC purchased a new position in shares of Alignment Healthcare during the third quarter valued at approximately $95,000. Principal Financial Group Inc. boosted 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 buying an additional 2,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare during the third quarter valued at approximately $131,000. Finally, Creative Planning lifted its stake in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ALHC shares. Robert W. Baird boosted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. TD Cowen upped their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. UBS Group increased their price objective 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare presently 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.