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

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the recipient of a large 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. Approximately 10.2% of the shares of the company are sold short. Based on an average trading volume of 1,850,000 shares, the short-interest ratio is currently 5.1 days.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 21,375 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.66, for a total transaction of $227,857.50. Following the sale, the chief financial officer now directly owns 243,054 shares in the company, valued at approximately $2,590,955.64. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 653,546 shares of company stock valued at $7,875,008 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after purchasing an additional 205,705 shares during the period. Principal Financial Group Inc. grew its position in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares in the last quarter. Geode Capital Management LLC increased its stake in Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock valued at $28,875,000 after buying an additional 32,839 shares during the period. Barclays PLC increased its stake in 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 during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Alignment Healthcare in the 3rd quarter worth approximately $523,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ALHC. Stephens raised 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. KeyCorp began coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Barclays upped their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

Alignment Healthcare Trading Down 0.2 %

Shares of Alignment Healthcare stock traded down $0.02 during trading on Friday, hitting $10.82. The stock had a trading volume of 756,974 shares, compared to its average volume of 1,183,712. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $2.07 billion, a PE ratio of -14.05 and a beta of 1.42. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $14.25. The stock has a 50 day simple moving average of $11.87 and a 200 day simple moving average of $10.29.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. On average, research analysts expect 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.