Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 4,330,000 shares, a growth of 28.5% from the June 30th total of 3,370,000 shares. Approximately 4.9% of the company’s shares are sold short. Based on an average trading volume of 984,600 shares, the days-to-cover ratio is currently 4.4 days.
Insider Transactions at Alignment Healthcare
In related news, CFO Robert Thomas Freeman sold 38,858 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $388,968.58. Following the transaction, the chief financial officer now directly owns 414,429 shares in the company, valued at approximately $4,148,434.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Robert Thomas Freeman sold 38,858 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $10.01, for a total transaction of $388,968.58. Following the completion of the transaction, the chief financial officer now owns 414,429 shares in the company, valued at approximately $4,148,434.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher J. Joyce sold 16,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the completion of the transaction, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,221 shares of company stock worth $2,142,155. 6.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Alignment Healthcare
A number of large investors have recently made changes to their positions in ALHC. Vanguard Group Inc. grew its stake in Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock worth $63,303,000 after buying an additional 322,661 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Alignment Healthcare by 123.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 36,236 shares of the company’s stock valued at $312,000 after purchasing an additional 20,030 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Alignment Healthcare by 18.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after purchasing an additional 4,862 shares in the last quarter. Victory Capital Management Inc. grew its position in Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after purchasing an additional 10,123 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Check Out Our Latest Report on Alignment Healthcare
Alignment Healthcare Stock Performance
Shares of Alignment Healthcare stock opened at $8.56 on Tuesday. The company has a market capitalization of $1.64 billion, a PE ratio of -10.19 and a beta of 1.43. The company has a 50-day simple moving average of $8.19 and a two-hundred day simple moving average of $6.72. Alignment Healthcare has a one year low of $4.46 and a one year high of $10.16. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57.
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The firm had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. During the same quarter last year, the firm earned ($0.20) EPS. The company’s revenue was up 43.1% compared to the same quarter last year. Research analysts expect that Alignment Healthcare will post -0.67 EPS for the current fiscal year.
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.
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