Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Down 14.5% in May

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the target of 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. Currently, 6.8% of the shares of the company are sold short. Based on an average daily trading volume, of 3,310,000 shares, the short-interest ratio is currently 2.7 days.

Insider Activity

In other Alignment Healthcare news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.28, for a total value of $259,760,000.00. Following the completion of the transaction, the director now owns 44,302,175 shares in the company, valued at approximately $676,937,234. This represents a 27.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert L. Scavo sold 55,403 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $860,408.59. Following the sale, the insider now directly owns 673,419 shares in the company, valued at approximately $10,458,197.07. This trade represents a 7.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,891,977 shares of company stock valued at $290,517,011. Company insiders own 7.00% of the company’s stock.

Institutional Trading of Alignment Healthcare

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank increased its position in Alignment Healthcare by 21.6% in the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company’s stock worth $65,000 after purchasing an additional 616 shares during the last quarter. Ballentine Partners LLC increased its holdings in Alignment Healthcare by 8.6% in the first quarter. Ballentine Partners LLC now owns 11,674 shares of the company’s stock worth $217,000 after buying an additional 924 shares during the last quarter. MCF Advisors LLC raised its position in Alignment Healthcare by 87.6% during the first quarter. MCF Advisors LLC now owns 2,165 shares of the company’s stock valued at $40,000 after acquiring an additional 1,011 shares in the last quarter. Cresset Asset Management LLC lifted its stake in Alignment Healthcare by 0.6% in the first quarter. Cresset Asset Management LLC now owns 287,565 shares of the company’s stock valued at $5,354,000 after acquiring an additional 1,797 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alignment Healthcare by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after acquiring an additional 2,154 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 1.1%

Shares of NASDAQ ALHC opened at $15.34 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 12 month low of $7.05 and a 12 month high of $21.06. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -19.92 and a beta of 1.32. The business has a fifty day simple moving average of $16.89 and a 200-day simple moving average of $14.75.

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

Analysts Set New Price Targets

ALHC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Barclays increased their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. 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 report on Tuesday, March 4th. Robert W. Baird lifted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Finally, William Blair reissued an “outperform” rating on shares of Alignment Healthcare 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 assigned a buy rating to the stock. According to MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $17.17.

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.