Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Hakan Kardes Sells 25,000 Shares

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 25,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $11.48, for a total value of $287,000.00. Following the transaction, the insider now owns 380,444 shares in the company, valued at $4,367,497.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alignment Healthcare Stock Up 2.7 %

Alignment Healthcare stock opened at $11.89 on Friday. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $12.36. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -14.15 and a beta of 1.43. The business’s 50-day moving average price is $9.15 and its 200 day moving average price is $7.27. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business had revenue of $681.29 million for the quarter, compared to analysts’ expectations of $637.66 million. During the same quarter last year, the company earned ($0.15) EPS. The business’s revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALHC. Deerfield Management Company L.P. Series C grew its position in shares of 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 acquiring an additional 2,630,788 shares during the period. William Blair Investment Management LLC boosted its position in Alignment Healthcare by 94.4% during the second 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 in the last quarter. Hood River Capital Management LLC grew its holdings in Alignment Healthcare by 49.6% in the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Alignment Healthcare by 283.9% in the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock valued at $1,566,000 after buying an additional 233,417 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after buying an additional 225,000 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALHC. Barclays upped their price target on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Baird R W upgraded Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. TD Cowen boosted their price target 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 price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and upped their target price for the company from $7.75 to $11.00 in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $9.83.

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.