Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Update

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 3,910,000 shares, a drop of 17.7% from the September 15th total of 4,750,000 shares. Approximately 4.5% of the company’s shares are short sold. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALHC shares. Stifel Nicolaus raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird raised their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Barclays upped their target price on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Piper Sandler reissued an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Finally, TD Cowen upped their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.83.

Insider Activity

In related news, insider Dawn Christine Maroney sold 20,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the sale, the insider now directly owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the completion of the transaction, the insider now owns 1,796,097 shares in the company, valued at $15,626,043.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 39,320 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $12.04, for a total transaction of $473,412.80. Following the sale, the chief financial officer now owns 194,609 shares in the company, valued at $2,343,092.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 400,261 shares of company stock valued at $4,272,130. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several large investors have recently added to or reduced their stakes in ALHC. Jacobs Levy Equity Management Inc. bought a new position in shares of Alignment Healthcare during the first quarter worth about $918,000. Vanguard Group Inc. grew its position in Alignment Healthcare by 1.0% in 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. Deerfield Management Company L.P. Series C increased its stake in shares of 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 period. Bank of New York Mellon Corp raised its holdings in shares of Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after buying an additional 82,559 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Alignment Healthcare during the first quarter worth approximately $57,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Trading Down 0.5 %

Alignment Healthcare stock opened at $11.39 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $12.36. The firm’s 50-day moving average is $10.08 and its 200-day moving average is $8.20. The company has a market cap of $2.18 billion, a P/E ratio of -13.56 and a beta of 1.47.

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

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.