Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Up 7.9% in March

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,780,000 shares, a growth of 7.9% from the February 29th total of 4,430,000 shares. Based on an average trading volume of 866,600 shares, the short-interest ratio is currently 5.5 days. Currently, 5.3% of the shares of the company are sold short.

Insider Transactions at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 15,861 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $80,098.05. Following the completion of the transaction, the insider now owns 1,999,500 shares in the company, valued at $10,097,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Robert Thomas Freeman sold 11,858 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $4.89, for a total value of $57,985.62. Following the completion of the sale, the chief financial officer now owns 898,228 shares of the company's stock, valued at $4,392,334.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 15,861 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $80,098.05. Following the completion of the sale, the insider now directly owns 1,999,500 shares of the company's stock, valued at $10,097,475. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,213 shares of company stock worth $460,587. Insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently modified their holdings of ALHC. Swiss National Bank boosted its position in shares of Alignment Healthcare by 7.3% in the first quarter. Swiss National Bank now owns 88,500 shares of the company's stock valued at $994,000 after acquiring an additional 6,000 shares during the period. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 7.7% in the first quarter. Principal Financial Group Inc. now owns 14,524 shares of the company's stock valued at $163,000 after acquiring an additional 1,034 shares during the period. MetLife Investment Management LLC boosted its position in shares of Alignment Healthcare by 55.4% in the first quarter. MetLife Investment Management LLC now owns 45,938 shares of the company's stock valued at $516,000 after acquiring an additional 16,380 shares during the period. Panagora Asset Management Inc. lifted its position in Alignment Healthcare by 4.2% in the first quarter. Panagora Asset Management Inc. now owns 154,586 shares of the company's stock worth $1,736,000 after purchasing an additional 6,178 shares during the period. Finally, Rhumbline Advisers lifted its position in Alignment Healthcare by 13.0% in the first quarter. Rhumbline Advisers now owns 78,349 shares of the company's stock worth $880,000 after purchasing an additional 9,042 shares during the period. 86.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays assumed coverage on shares of Alignment Healthcare in a report on Wednesday, March 6th. They issued an "underweight" rating and a $4.50 price target for the company. Stifel Nicolaus assumed coverage on shares of Alignment Healthcare in a research note on Wednesday, January 24th. They set a "buy" rating and a $11.00 price objective for the company. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. UBS Group reduced their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Finally, Raymond James upped their price objective on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alignment Healthcare has an average rating of "Moderate Buy" and a consensus target price of $9.61.

Alignment Healthcare Trading Down 2.2 %

Alignment Healthcare stock traded down $0.11 during trading hours on Tuesday, reaching $4.82. 979,943 shares of the company were exchanged, compared to its average volume of 904,098. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average of $5.90 and a 200 day moving average of $6.85. Alignment Healthcare has a 12 month low of $4.48 and a 12 month high of $9.20.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The business had revenue of $465.39 million during the quarter, compared to the consensus estimate of $444.56 million. During the same period in the prior year, the company posted ($0.31) earnings per share. The firm's revenue was up 28.6% compared to the same quarter last year. As a group, sell-side analysts expect that Alignment Healthcare will post -0.59 earnings per share for the current 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.