Short Interest in Alignment Healthcare, Inc. (NASDAQ:ALHC) Declines By 17.7%

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of a significant 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. Approximately 4.5% of the shares of the stock are sold short. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is presently 3.1 days.

Insider Activity at Alignment Healthcare

In related news, 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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the sale, the chief executive officer now owns 2,543,100 shares in the company, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Thomas Freeman sold 39,320 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $12.04, for a total value of $473,412.80. Following the transaction, the chief financial officer now directly owns 194,609 shares in the company, valued at approximately $2,343,092.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,895 shares of company stock valued at $4,621,859 over the last quarter. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new position in Alignment Healthcare in the first quarter worth $57,000. Virtu Financial LLC bought a new position in shares of Alignment Healthcare in the 1st quarter worth about $57,000. Creative Planning lifted its position in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after buying an additional 3,334 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after buying an additional 19,129 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

ALHC has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen increased their price target on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp initiated coverage on Alignment Healthcare in a research note on Friday. They set a “sector weight” rating on the stock. Robert W. Baird increased their target price on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Barclays boosted their price target 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 research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Price Performance

ALHC stock opened at $11.45 on Friday. 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 quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The stock’s 50 day moving average is $10.03 and its two-hundred day moving average is $8.13. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.36.

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