Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $267,730.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 20,500 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $13.06, for a total transaction of $267,730.00. Following the transaction, the insider now owns 355,444 shares of the company’s stock, valued at approximately $4,642,098.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hakan Kardes also recently made the following trade(s):

• 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 Trading Up 6.6 %

Shares of Alignment Healthcare stock opened at $14.15 on Thursday. The stock has a market capitalization of $2.71 billion, a P/E ratio of -18.38 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 quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a 50-day simple moving average of $10.98 and a 200 day simple moving average of $8.96.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate 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 company’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) earnings per share. Research analysts expect that Alignment Healthcare, Inc. will post -0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ALHC shares. Barclays upped their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. TD Cowen upped 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. Stifel Nicolaus raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird boosted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Alignment Healthcare in the first quarter valued at $57,000. Principal Financial Group Inc. bought a new stake in Alignment Healthcare during the 1st quarter worth about $57,000. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the third quarter worth about $95,000. Creative Planning lifted its position in shares of Alignment Healthcare by 20.0% during the third 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. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares during the last quarter. Institutional investors 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.