Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $448,000.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 35,000 shares of the 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 transaction, the insider now owns 320,444 shares of the company’s stock, valued at $4,101,683.20. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $267,730.00.
• On Friday, November 1st, Hakan Kardes sold 4,500 shares of Alignment Healthcare stock. The stock was 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 Stock Performance

Alignment Healthcare stock opened at $12.61 on Monday. 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 company has a market capitalization of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45. The company has a 50 day moving average price of $11.81 and a 200-day moving average price of $9.77. 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 issued its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) EPS. As a group, equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C raised its holdings in shares of Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after buying an additional 93,262 shares during the period. Hood River Capital Management LLC raised its stake in Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after buying an additional 185,854 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Alignment Healthcare by 94.4% during the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after buying an additional 1,507,759 shares during the period. Finally, Geode Capital Management LLC boosted its position in Alignment Healthcare by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock valued at $28,875,000 after acquiring an additional 32,839 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of recent research reports. Barclays upped their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price objective 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. UBS Group increased their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Finally, TD Cowen increased their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.33.

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.