Short Interest in Alignment Healthcare, Inc. (NASDAQ:ALHC) Drops By 14.5%

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 8,890,000 shares, a decline of 14.5% from the April 30th total of 10,400,000 shares. Approximately 6.8% of the shares of the company are sold short. Based on an average trading volume of 3,310,000 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

ALHC has been the subject of several research analyst reports. Bank of America boosted their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. UBS Group increased their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Robert W. Baird boosted their target price on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Finally, Barclays lifted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $17.17.

Alignment Healthcare Stock Down 3.5%

Shares of NASDAQ ALHC traded down $0.53 during trading on Thursday, hitting $14.79. 2,923,108 shares of the company traded hands, compared to its average volume of 2,000,914. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -19.21 and a beta of 1.22. The business's fifty day moving average is $16.83 and its 200 day moving average is $14.75. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare has a fifty-two week low of $7.05 and a fifty-two week high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company's quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) earnings per share. Equities research analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $14.84, for a total value of $1,335,600.00. Following the transaction, the chief executive officer now owns 1,913,100 shares of the company's stock, valued at approximately $28,390,404. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert L. Scavo sold 5,313 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $15.43, for a total value of $81,979.59. Following the sale, the insider now owns 668,106 shares of the company's stock, valued at approximately $10,308,875.58. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,784,649 shares of company stock worth $273,320,208. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. US Bancorp DE lifted its stake in Alignment Healthcare by 6,544.2% during the 4th quarter. US Bancorp DE now owns 98,932 shares of the company's stock valued at $1,113,000 after acquiring an additional 97,443 shares in the last quarter. Barclays PLC raised its holdings in shares of Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company's stock valued at $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Northern Trust Corp lifted its position in shares of Alignment Healthcare by 8.6% during the fourth quarter. Northern Trust Corp now owns 908,964 shares of the company's stock valued at $10,226,000 after purchasing an additional 72,063 shares in the last quarter. Franklin Resources Inc. purchased a new position in Alignment Healthcare during the fourth quarter worth about $732,000. Finally, Proficio Capital Partners LLC purchased a new position in Alignment Healthcare during the fourth quarter worth about $184,000. Institutional investors own 86.19% of the company's stock.

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.