Alignment Healthcare, Inc. (NASDAQ:ALHC) Sees Significant Decrease in Short Interest

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 7,050,000 shares, a decline of 13.2% from the February 13th total of 8,120,000 shares. Currently, 6.7% of the shares of the stock are short sold. Based on an average daily volume of 1,930,000 shares, the days-to-cover ratio is currently 3.7 days.

Insider Buying and Selling

In related news, CFO Robert Thomas Freeman sold 13,815 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $233,335.35. Following the completion of the sale, the chief financial officer now directly owns 1,482,595 shares of the company's stock, valued at approximately $25,041,029.55. This represents a 0.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 27,535 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $465,066.15. Following the completion of the sale, the chief executive officer now directly owns 4,991,717 shares of the company's stock, valued at approximately $84,310,100.13. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,901,665 shares of company stock worth $29,141,513 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Remove Ads

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in Alignment Healthcare in the fourth quarter valued at about $55,000. RiverPark Advisors LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at about $106,000. Tower Research Capital LLC TRC raised its stake in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after purchasing an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at about $121,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alignment Healthcare in the third quarter valued at about $131,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Analysts Set New Price Targets

ALHC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Bank of America raised their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Piper Sandler lifted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.83.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock traded up $0.43 during trading on Friday, reaching $17.61. The company's stock had a trading volume of 3,358,496 shares, compared to its average volume of 1,428,436. The business's 50-day moving average price is $14.90 and its 200-day moving average price is $12.71. The firm has a market cap of $3.38 billion, a PE ratio of -22.87 and a beta of 1.49. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $17.76. 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 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.