Alignment Healthcare, Inc. (NASDAQ:ALHC) Short Interest Down 9.0% in May (2024)

Posted by Defense World Staff on Jun 2nd, 2024

Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 5,450,000 shares, a decrease of 9.0% from the April 30th total of 5,990,000 shares. Currently, 6.0% of the company’s stock are short sold. Based on an average trading volume of 988,300 shares, the days-to-cover ratio is currently 5.5 days.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the sale, the insider now owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO John E. Kao acquired 103,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $4.82 per share, with a total value of $496,460.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the completion of the sale, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,213 shares of company stock valued at $460,587. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Alignment Healthcare

Several institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Alignment Healthcare in the 1st quarter worth approximately $57,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Alignment Healthcare in the first quarter worth $918,000. Hood River Capital Management LLC boosted its position in shares of Alignment Healthcare by 49.6% during the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after acquiring an additional 968,637 shares during the last quarter. Vanguard Group Inc. grew its stake in Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Alignment Healthcare by 47.4% in the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock valued at $1,272,000 after acquiring an additional 82,476 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and boosted their price target for the company from $7.75 to $11.00 in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Stephens boosted their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Robert W. Baird assumed coverage on shares of Alignment Healthcare in a research report on Thursday. They issued an “outperform” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average target price of $9.20.

Check Out Our Latest Stock Analysis on ALHC

Alignment Healthcare Stock Performance

ALHC opened at $7.88 on Friday. The company has a 50 day simple moving average of $5.85 and a two-hundred day simple moving average of $6.61. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $1.51 billion, a P/E ratio of -9.38 and a beta of 1.23. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $9.20.

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The firm had revenue of $628.60 million for the quarter, compared to analysts’ expectations of $599.75 million. During the same quarter last year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was up 43.1% compared to the same quarter last year. Equities analysts forecast that Alignment Healthcare will post -0.65 earnings per share for the current fiscal year.

Alignment Healthcare Company Profile

(Get Free Report)

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.