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 business’s stock in a transaction dated 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 sale, the insider now directly owns 320,444 shares of the company’s stock, valued at $4,101,683.20. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 Performance

Shares of NASDAQ ALHC opened at $12.61 on Friday. 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 market cap of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45. The stock has a 50 day simple moving average of $11.81 and a 200-day simple moving average of $9.77.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The company 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 company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports 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 research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen boosted their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Finally, UBS Group upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alignment Healthcare in the 1st quarter worth approximately $918,000. Vanguard Group Inc. lifted its position in Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after purchasing an additional 93,262 shares during the period. Deerfield Management Company L.P. Series C boosted its stake in Alignment Healthcare by 31.8% during 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. Bank of New York Mellon Corp increased its position in shares of Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares in 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.