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

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

Alignment Healthcare Stock Down 0.1 %

NASDAQ ALHC traded down $0.01 on Tuesday, hitting $13.28. 852,291 shares of the company were exchanged, compared to its average volume of 1,030,941. 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 $2.55 billion, a PE ratio of -17.25 and a beta of 1.45. The stock has a fifty day moving average of $10.89 and a 200-day moving average of $8.90. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $13.45.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s revenue was up 51.6% on a year-over-year basis. As a group, analysts forecast that Alignment Healthcare, Inc. will post -0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

ALHC has been the topic of several recent research reports. Stifel Nicolaus lifted 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. UBS Group lifted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen increased their target price 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. Piper Sandler restated an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Finally, Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of ALHC. Jacobs Levy Equity Management Inc. bought a new stake in Alignment Healthcare during the 1st quarter worth approximately $918,000. Vanguard Group Inc. grew 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 worth $45,828,000 after buying an additional 93,262 shares in the last quarter. Deerfield Management Company L.P. Series C raised its position in 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 buying an additional 2,630,788 shares during the last quarter. Bank of New York Mellon Corp raised its position in Alignment Healthcare by 27.5% in 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 buying an additional 82,559 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Alignment Healthcare during the 1st quarter worth $57,000. 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.