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 firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the sale, the insider now owns 320,444 shares of the company’s stock, valued at $4,101,683.20. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 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 Trading Down 1.7 %

NASDAQ ALHC opened at $12.61 on Friday. 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, Inc. has a 1-year low of $4.46 and a 1-year high of $14.25. The firm’s fifty day simple moving average is $11.81 and its 200-day simple moving average is $9.77. The company has a market capitalization of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45.

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). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business’s revenue was up 51.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C grew its position in Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Alignment Healthcare by 94.4% in the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Royce & Associates LP bought a new stake in Alignment Healthcare in the third quarter worth $3,782,000. Renaissance Technologies LLC increased its position in Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after buying an additional 225,000 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Alignment Healthcare during the second quarter valued at about $1,512,000. Institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

ALHC has been the topic of a number of analyst reports. TD Cowen lifted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. UBS Group lifted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Robert W. Baird raised 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. Finally, Barclays increased their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alignment Healthcare presently has an average 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.