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

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 4,030,000 shares, a decline of 30.8% from the May 31st total of 5,820,000 shares. Based on an average daily volume of 860,300 shares, the days-to-cover ratio is currently 4.7 days. Currently, 4.5% of the shares of the stock are sold short.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the completion of the transaction, the insider now directly owns 1,956,097 shares in the company, valued at $16,059,556.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dawn Christine Maroney sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total transaction of $164,200.00. Following the transaction, the insider now owns 1,956,097 shares in the company, valued at approximately $16,059,556.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the sale, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,200 shares of company stock valued at $302,032. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in ALHC. Victory Capital Management Inc. grew its position in Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares in the last quarter. Aigen Investment Management LP raised its holdings in Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after acquiring an additional 3,092 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Alignment Healthcare by 18.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after purchasing an additional 4,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after purchasing an additional 10,123 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

ALHC stock opened at $7.82 on Monday. The stock has a 50-day moving average price of $7.07 and a two-hundred day moving average price of $6.66. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $9.20. The stock has a market cap of $1.50 billion, a PE ratio of -9.31 and a beta of 1.44. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The firm’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. Equities analysts forecast that Alignment Healthcare will post -0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALHC. Robert W. Baird assumed coverage on Alignment Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $10.00 target price for the company. Stephens lifted their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Barclays assumed coverage on Alignment Healthcare in a research note on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price target on the stock. Baird R W upgraded Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Piper Sandler raised Alignment Healthcare from a “neutral” rating to an “overweight” rating and increased their target price for the company from $6.00 to $8.00 in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $9.20.

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.