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

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 4,750,000 shares, an increase of 6.0% from the August 31st total of 4,480,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is currently 4.5 days. Approximately 5.5% of the company’s stock are sold short.

Insider Activity

In other news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 approximately $15,626,043.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Christopher J. Joyce sold 15,034 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total transaction of $136,057.70. Following the completion of the transaction, the insider now owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 owns 1,796,097 shares in the company, valued at $15,626,043.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,973 shares of company stock worth $2,671,391. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Alignment Healthcare by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after acquiring an additional 10,123 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 stake in Alignment Healthcare in the first quarter valued at approximately $57,000. Blue Trust Inc. grew its holdings in Alignment Healthcare by 47.4% in the first 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 period. Finally, Vanguard Group Inc. lifted its position in shares of Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several research analyst reports. Robert W. Baird increased their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. TD Cowen boosted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Barclays boosted their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Stifel Nicolaus upped their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Price Performance

ALHC opened at $11.82 on Tuesday. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $12.36. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -14.07 and a beta of 1.43. The stock has a fifty day simple moving average of $9.65 and a two-hundred day simple moving average of $7.75. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

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