Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Down 17.7% in September

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of a large drop in short interest during 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. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is currently 3.1 days. Approximately 4.5% of the shares of the company are short sold.

Insider Buying and Selling

In related news, insider Christopher J. Joyce sold 15,034 shares of the company’s stock in a transaction on Monday, July 15th. The stock was 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 directly owns 406,912 shares in the company, valued at $3,682,553.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Dawn Christine Maroney sold 23,163 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total transaction of $231,630.00. Following the completion of the transaction, the insider now directly owns 1,892,934 shares in the company, valued at approximately $18,929,340. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher J. Joyce sold 15,034 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the transaction, the insider now directly owns 406,912 shares of the company’s stock, valued at $3,682,553.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,895 shares of company stock valued at $4,621,859. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently bought and sold shares of ALHC. Deerfield Management Company L.P. Series C lifted its stake in Alignment Healthcare by 31.8% during 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 buying an additional 2,630,788 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Alignment Healthcare by 94.4% in the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after acquiring an additional 1,507,759 shares in the last quarter. Hood River Capital Management LLC boosted its stake in Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after purchasing an additional 968,637 shares during the period. Renaissance Technologies LLC grew its position in Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Alignment Healthcare during the 2nd quarter valued at $1,512,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Robert W. Baird raised their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday. They issued a “sector weight” rating for the company. TD Cowen raised their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays upped their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Trading Up 1.2 %

Shares of NASDAQ:ALHC opened at $11.45 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -13.96 and a beta of 1.47. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $12.36. The company has a 50 day moving average price of $10.03 and a 200 day moving average price of $8.13.

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