Short Interest in Alignment Healthcare, Inc. (NASDAQ:ALHC) Grows By 13.0%

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 4,420,000 shares, an increase of 13.0% from the September 30th total of 3,910,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 3.7 days. Approximately 5.1% of the company’s shares are sold short.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction 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 sale, the insider now directly owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Robert Thomas Freeman sold 30,500 shares of Alignment Healthcare stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $11.50, for a total value of $350,750.00. Following the completion of the transaction, the chief financial officer now owns 164,109 shares in the company, valued at $1,887,253.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total transaction of $174,000.00. Following the sale, the insider now directly owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,940 shares of company stock valued at $3,487,014 over the last quarter. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C increased its position in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after buying an additional 93,262 shares during the period. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after buying an additional 185,854 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Alignment Healthcare by 94.4% during the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after acquiring an additional 1,507,759 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after acquiring an additional 225,000 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $11.73 on Thursday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The business has a 50 day simple moving average of $10.67 and a 200-day simple moving average of $8.71. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36. The stock has a market capitalization of $2.24 billion, a PE ratio of -15.23 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. Alignment Healthcare’s quarterly revenue was up 51.6% on a year-over-year basis. Equities analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on ALHC shares. Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Robert W. Baird lifted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. KeyCorp started coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, UBS Group increased their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.33.

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.