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

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 2,160,000 shares, a decline of 10.0% from the August 15th total of 2,400,000 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average trading volume of 603,500 shares, the short-interest ratio is currently 3.6 days.

Insider Activity

In other news, Director Warburg Pincus Partners Gp Llc sold 2,120,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $16.16, for a total transaction of $34,259,200.00. Following the completion of the sale, the director now owns 20,648,785 shares of the company’s stock, valued at $333,684,365.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dawn Christine Maroney sold 1,790 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $16.60, for a total value of $29,714.00. Following the completion of the transaction, the insider now owns 1,610,069 shares of the company’s stock, valued at $26,727,145.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Warburg Pincus Partners Gp Llc sold 2,120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $16.16, for a total transaction of $34,259,200.00. Following the completion of the transaction, the director now directly owns 20,648,785 shares of the company’s stock, valued at approximately $333,684,365.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,575,062 shares of company stock valued at $56,603,718. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently modified their holdings of ALHC. Durable Capital Partners LP raised its position in shares of Alignment Healthcare by 2,079.2% during the 1st quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock worth $66,349,000 after purchasing an additional 5,637,102 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Alignment Healthcare by 101.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,469,275 shares of the company’s stock worth $62,838,000 after purchasing an additional 2,248,417 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Alignment Healthcare by 37.6% during the 1st quarter. Brown Advisory Inc. now owns 3,558,235 shares of the company’s stock worth $40,000,000 after purchasing an additional 971,529 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Alignment Healthcare during the 4th quarter worth about $9,598,000. Finally, Bank of America Corp DE raised its position in shares of Alignment Healthcare by 4,758.7% during the 4th quarter. Bank of America Corp DE now owns 259,018 shares of the company’s stock worth $3,642,000 after purchasing an additional 253,687 shares during the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $12.88 on Monday. Alignment Healthcare has a one year low of $6.14 and a one year high of $23.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.74 and a current ratio of 2.74. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -15.71 and a beta of 1.92. The firm’s fifty day moving average is $15.19 and its two-hundred day moving average is $12.22.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.20. Alignment Healthcare had a negative net margin of 11.20% and a negative return on equity of 47.96%. During the same period last year, the business earned ($0.25) EPS. Research analysts expect that Alignment Healthcare will post -0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALHC. UBS Group boosted their price objective on shares of Alignment Healthcare from $11.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Cowen upped their price target on Alignment Healthcare from $12.00 to $17.00 in a research report on Monday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target on shares of Alignment Healthcare in a research report on Thursday, September 8th. Morgan Stanley upped their price target on Alignment Healthcare from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 10th. Finally, Barclays upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.55.

Alignment Healthcare Company Profile

(Get Rating)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.

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