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

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 3,940,000 shares, a decrease of 17.6% from the March 15th total of 4,780,000 shares. Approximately 4.4% of the company's stock are short sold. Based on an average daily trading volume, of 891,100 shares, the days-to-cover ratio is presently 4.4 days.

Insider Activity at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction on Friday, March 15th. The stock was 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 directly owns 898,228 shares of the company's stock, valued at approximately $4,392,334.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction on Friday, March 15th. The stock was 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 directly owns 898,228 shares of the company's stock, valued at approximately $4,392,334.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dawn Christine Maroney sold 23,000 shares of the firm's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the sale, the insider now directly owns 1,830,008 shares of the company's stock, valued at $9,955,243.52. The disclosure for this sale can be found here. In the last three months, insiders sold 90,213 shares of company stock valued at $460,587. 6.30% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

Large investors have recently modified their holdings of the business. Teza Capital Management LLC bought a new stake in shares of Alignment Healthcare during the 3rd quarter valued at about $109,000. Panagora Asset Management Inc. boosted its position in shares of Alignment Healthcare by 16.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company's stock valued at $2,400,000 after acquiring an additional 49,716 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Alignment Healthcare during the 3rd quarter valued at about $641,000. Mackenzie Financial Corp lifted its position in Alignment Healthcare by 38.1% in the 3rd quarter. Mackenzie Financial Corp now owns 31,069 shares of the company's stock worth $218,000 after buying an additional 8,577 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Alignment Healthcare by 9.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 543,197 shares of the company's stock worth $3,770,000 after buying an additional 46,747 shares during the last quarter. Institutional investors own 86.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ALHC shares. Barclays started coverage on Alignment Healthcare in a research report on Wednesday, March 6th. They set an "underweight" rating and a $4.50 target price for the company. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Stephens lifted their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the stock an "equal weight" rating in a report on Tuesday, January 9th. Stifel Nicolaus assumed coverage on Alignment Healthcare in a report on Wednesday, January 24th. They issued a "buy" rating and a $11.00 price objective for the company. Finally, Raymond James lifted their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.61.

Alignment Healthcare Price Performance

NASDAQ ALHC traded down $0.12 during trading hours on Friday, hitting $4.70. The company had a trading volume of 551,026 shares, compared to its average volume of 869,903. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $9.20. The firm has a 50 day simple moving average of $5.51 and a 200 day simple moving average of $6.74. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $888.20 million, a price-to-earnings ratio of -5.95 and a beta of 1.30.

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