Short Interest in Alignment Healthcare, Inc. (NASDAQ:ALHC) Decreases By 13.3%

Alignment Healthcare, Inc. (NASDAQ:ALHC) saw a large decline in short interest in 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. Based on an average trading volume of 1,980,000 shares, the days-to-cover ratio is presently 4.1 days. Approximately 8.7% of the shares of the company are sold short.

Analyst Ratings Changes

Several research firms recently issued reports on ALHC. Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 2nd. Stifel Nicolaus boosted their price target on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. UBS Group lifted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.88.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $13.68 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $15.82. The stock has a market capitalization of $2.62 billion, a P/E ratio of -17.77 and a beta of 1.50. The stock has a fifty day moving average of $12.95 and a 200-day moving average of $11.61.

Insider Transactions at Alignment Healthcare

In related news, insider Hakan Kardes sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total value of $448,000.00. Following the completion of the sale, the insider now directly owns 320,444 shares in the company, valued at $4,101,683.20. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the sale, the chief operating officer now owns 217,395 shares of the company’s stock, valued at $2,447,867.70. This trade represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 446,002 shares of company stock worth $5,809,126. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently modified their holdings of the business. Creative Planning raised its holdings in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after buying an additional 2,937 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Alignment Healthcare by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock worth $690,000 after buying an additional 3,256 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Alignment Healthcare by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after buying an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Alignment Healthcare by 15.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock worth $388,000 after buying an additional 4,497 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.