Hakan Kardes Sells 4,500 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 4,500 shares of the company’s stock in a transaction 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 directly owns 375,944 shares in the company, valued at approximately $4,879,753.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $11.48, for a total value of $287,000.00.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $14.15 on Thursday. The stock has a 50-day moving average price of $10.98 and a two-hundred day moving average price of $8.96. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.25. The company has a market capitalization of $2.71 billion, a PE ratio of -18.38 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.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) 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 firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. During the same quarter last year, the firm posted ($0.19) earnings per share. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. Analysts expect that Alignment Healthcare, Inc. will post -0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALHC shares. UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Stifel Nicolaus increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Robert W. Baird increased their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new stake in Alignment Healthcare in the first quarter valued at approximately $918,000. Vanguard Group Inc. boosted its position in shares of 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 last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Alignment Healthcare by 31.8% during the second 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 buying an additional 2,630,788 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after buying an additional 82,559 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Alignment Healthcare during the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.