BUZZ-Alignment Healthcare jumps as co poised to join S&P SmallCap index
Allegiant Travel ALGT | 0.00 | |
Sun Country Airlines SNCY | 0.00 | |
Alignment Healthcare ALHC | 0.00 | |
Spicology Inc SPCY | 0.00 |
** Senior healthcare provider Alignment Healthcare ALHC.O shares up 4.9% premarket to $18 as co set to join S&P SmallCap index .SPCY later this week
** ALHC to replace Sun Country Airlines SNCY.O in SPCY prior to market open on Thurs, May 14, S&P Dow Jones Indices announced late Mon
** Sun Country being acquired by Allegiant Travel ALGT.O in $1.5 bln deal
** Stephens analyst Melissa Roberts said in a note she expects passive funds will need to purchase 21.5 mln ALHC shares which implies about 6 days of buying demand
** Orange, California-based ALHC has ~206.7 mln shares outstanding for about $3.5 bln market cap
** Stock down 13% YTD at close on Mon
** 12 of 14 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT $25, per LSEG data