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

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 9,350,000 shares, a decline of 15.8% from the November 30th total of 11,110,000 shares. Currently, 10.2% of the company’s stock are sold short. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is presently 5.1 days.

Insider Buying and Selling at Alignment Healthcare

In other news, Director Joseph S. Konowiecki sold 6,920 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $13.73, for a total transaction of $95,011.60. Following the transaction, the director now owns 1,134,888 shares in the company, valued at approximately $15,582,012.24. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Thomas Freeman sold 21,375 shares of Alignment Healthcare stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.66, for a total transaction of $227,857.50. Following the completion of the sale, the chief financial officer now directly owns 243,054 shares of the company’s stock, valued at approximately $2,590,955.64. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,546 shares of company stock worth $7,875,008 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently modified their holdings of ALHC. Verition Fund Management LLC raised its stake in shares of Alignment Healthcare by 85.3% in the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after purchasing an additional 55,771 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Alignment Healthcare by 132.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after buying an additional 73,402 shares in the last quarter. Barclays PLC raised its stake in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after buying an additional 114,191 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of 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 acquiring an additional 2,630,788 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after acquiring an additional 82,559 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ALHC shares. KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Barclays boosted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $13.00 to $17.00 in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock traded down $0.02 during midday trading on Friday, hitting $10.82. The company had a trading volume of 756,974 shares, compared to its average volume of 1,183,712. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $14.25. The business’s 50 day simple moving average is $11.87 and its two-hundred day simple moving average is $10.29. The stock has a market cap of $2.07 billion, a PE ratio of -14.05 and a beta of 1.42. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, equities analysts predict that Alignment Healthcare will post -0.69 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.