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

Alignment Healthcare, Inc. (NASDAQ:ALHC) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 8,050,000 shares, a decline of 13.3% from the January 15th total of 9,280,000 shares. Approximately 8.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,980,000 shares, the short-interest ratio is presently 4.1 days.

Insider Transactions at Alignment Healthcare

In related news, COO Sebastian Burzacchi sold 8,550 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the transaction, the chief operating officer now owns 217,395 shares in the company, valued at approximately $2,447,867.70. This represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total value of $1,048,500.00. Following the completion of the transaction, the chief executive officer now owns 2,363,100 shares in the company, valued at approximately $27,530,115. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 446,002 shares of company stock worth $5,809,126 in the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Alignment Healthcare by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after purchasing an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after purchasing an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC boosted its stake in shares of Alignment Healthcare by 49.5% during the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after acquiring an additional 1,211,727 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

ALHC has been the topic of a number of analyst reports. Barclays boosted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Thursday, January 2nd. Finally, UBS Group upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $11.88.

Alignment Healthcare Price Performance

Shares of ALHC opened at $13.68 on Tuesday. The company has a market capitalization of $2.62 billion, a P/E ratio of -17.77 and a beta of 1.50. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a 50 day moving average of $13.00 and a 200 day moving average of $11.67. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $15.82.

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.