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 Alignment Healthcare stock in a transaction on Friday, November 1st. The stock was sold at an average price of $12.98, for a total value of $58,410.00. Following the sale, the insider now owns 375,944 shares in the company, valued at $4,879,753.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 Price Performance

Shares of ALHC opened at $14.15 on Thursday. The business’s 50-day moving average is $10.98 and its two-hundred day moving average is $8.96. The company has a market capitalization of $2.71 billion, a P/E ratio of -18.38 and a beta of 1.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $662.11 million. During the same period last year, the firm earned ($0.19) EPS. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Research analysts predict that Alignment Healthcare, Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C increased its holdings 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 purchasing an additional 2,630,788 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Alignment Healthcare by 1.0% during the 1st 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 last quarter. Hood River Capital Management LLC lifted its position in shares of Alignment Healthcare by 6.4% during the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after purchasing an additional 185,854 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Alignment Healthcare by 16.8% in the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after acquiring an additional 225,000 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALHC shares. Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Stifel Nicolaus upped their price objective 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 boosted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. KeyCorp assumed coverage on Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, TD Cowen upped their price target on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.