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

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a significant drop in short interest in 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 shares of the stock are sold short. Based on an average daily trading volume, of 1,270,000 shares, the short-interest ratio is presently 3.1 days.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the transaction, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Robert Thomas Freeman sold 22,100 shares of Alignment Healthcare stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $221,000.00. Following the completion of the sale, the chief financial officer now owns 497,329 shares of the company’s stock, valued at $4,973,290. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the sale, the chief executive officer now directly owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 400,261 shares of company stock valued at $4,272,130. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of ALHC. Allspring Global Investments Holdings LLC lifted its stake in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Alignment Healthcare during the 1st quarter valued at $57,000. Blue Trust Inc. raised its stake in Alignment Healthcare by 47.4% during the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock valued at $1,272,000 after purchasing an additional 82,476 shares during the last quarter. Vanguard Group Inc. raised its stake in Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares during the last quarter. Finally, 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 valued at $14,487,000 after purchasing an additional 968,637 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird boosted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. KeyCorp assumed coverage on Alignment Healthcare in a research note on Friday. They set a “sector weight” rating on the stock. Stifel Nicolaus boosted 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, TD Cowen boosted their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $9.83.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $11.45 on Monday. The company’s 50 day moving average price is $10.03 and its 200 day moving average price is $8.15. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $12.36. The company has a market capitalization of $2.19 billion, a PE ratio of -13.96 and a beta of 1.47. 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 (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $681.29 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned ($0.15) earnings per share. Research analysts expect that Alignment Healthcare will post -0.67 EPS for the current fiscal year.

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.