Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $287,000.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Hakan Kardes sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $11.48, for a total transaction of $287,000.00. Following the transaction, the insider now directly owns 380,444 shares of the company’s stock, valued at approximately $4,367,497.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Alignment Healthcare Trading Up 2.7 %

NASDAQ ALHC opened at $11.89 on Monday. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $12.36. The firm has a 50 day moving average of $9.15 and a two-hundred day moving average of $7.29. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $2.27 billion, a PE ratio of -14.15 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. As a group, research analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C increased its stake 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 valued at $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC grew its position 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 buying an additional 1,507,759 shares during the last quarter. Hood River Capital Management LLC raised its stake in Alignment Healthcare by 49.6% during the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after acquiring an additional 968,637 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in 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 acquiring an additional 233,417 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. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ALHC shares. Stifel Nicolaus raised their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and raised their target price for the company from $7.75 to $11.00 in a report on Thursday, May 30th. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays raised their price objective 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. Finally, Robert W. Baird upped their target price 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. One investment analyst has rated the stock with a sell rating, two have issued 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, the company presently has an average rating of “Moderate Buy” and an average price target of $9.83.

About Alignment Healthcare

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.