Alignment Healthcare, Inc.'s (NASDAQ:ALHC) Chief Experience Officer, Hakan Kardes, has recently sold a total of 25,000 shares of common stock in the company, according to the latest SEC filings. The transactions, which took place on September 12, 2024, resulted in a total sale value of over $287,052.
The shares were sold at a weighted-average price of $11.4821, with individual sales occurring within a narrow price range from $11.48 to $11.49. Following the sale, Kardes still owns a substantial stake in the company, with 380,444 shares remaining in his possession.
Investors and interested parties who wish to obtain further details about the specific prices of shares sold within the reported range are entitled to request this information directly from Alignment Healthcare, Inc., its security holders, or the SEC staff.
These transactions were carried out under a pre-arranged 10b5-1 trading plan, which was adopted on March 14, 2024. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time, providing an affirmative defense against charges of trading on non-public, material information.
The sale was executed by Christopher J. Joyce, serving as Attorney-in-Fact for Hakan Kardes, and was officially signed off on September 13, 2024.
In other recent news, Alignment Healthcare has undergone significant board restructuring, leading to the resignation of two board members, Jeffrey Margolis and Thomas Carella. Margolis has entered into a consulting agreement with the company's primary operating subsidiary, which includes a non-termination clause effective until June 30, 2026.
In addition, Alignment Healthcare has reported robust growth in the second quarter, with a 56% increase in health plan membership and a 47% surge in revenue year-over-year. This performance has led to an upward adjustment in year-end membership expectations by 8,000 members, and the company forecasts at least 20% growth in 2025.
Following these developments, Baird, TD Cowen, and Piper Sandler have all raised their stock price targets for the company. Baird has raised the company's price target from $10.00 to $11.00, while TD Cowen and Piper Sandler have increased their targets to $10.00. These adjustments reflect the company's strong growth and positive financial trajectory.
These are the recent developments that continue to make Alignment Healthcare an interesting prospect for investors.
InvestingPro Insights
Amidst the recent insider trading activity at Alignment Healthcare, Inc. (NASDAQ:ALHC), several metrics and InvestingPro Tips suggest a broader context for the company's stock performance. With a significant return over the last week of 25.16% and an impressive year-to-date price total return of 38.1%, the company's shares are demonstrating strong short-term performance. This is further underscored by a 121.0% return over the last year, indicating robust investor confidence despite the company's challenges.
InvestingPro Tips highlight that the stock is currently trading near its 52-week high, with a price percentage of 96.2% of the high. This aligns with the recent sales by the Chief Experience Officer, as insiders may choose to sell shares when they believe the stock is valued favorably. Additionally, the Price / Book ratio as of the last twelve months stands at a high 17.91, which is often indicative of a premium market valuation relative to the company's book value.
On the financial front, Alignment Healthcare's market capitalization is $2.27 billion USD, reflecting its standing in the market. However, it is important to note that the company is not profitable over the last twelve months, with a negative P/E ratio of -14.56. This is a critical consideration for investors, as the company's ability to turn a profit is a fundamental aspect of its long-term viability.
For investors seeking a deeper dive into Alignment Healthcare's prospects and performance, InvestingPro offers additional tips and metrics. There are currently 13 more tips available on https://www.investing.com/pro/ALHC that can provide further insights into the company's financial health and stock trends.
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