Short Interest in Alight, Inc. (NYSE:ALIT) Decreases By 15.4%

Alight, Inc. (NYSE:ALIT) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 31,278,114 shares, a decrease of 15.4% from the January 29th total of 36,957,062 shares. Based on an average daily trading volume, of 12,213,443 shares, the days-to-cover ratio is currently 2.6 days. Approximately 6.0% of the shares of the company are short sold. Approximately 6.0% of the shares of the company are short sold. Based on an average daily trading volume, of 12,213,443 shares, the days-to-cover ratio is currently 2.6 days.

Alight Stock Performance

ALIT traded down $0.01 on Thursday, hitting $0.96. 15,756,694 shares of the company traded hands, compared to its average volume of 20,775,191. Alight has a 12-month low of $0.65 and a 12-month high of $6.54. The company has a 50 day moving average of $1.46 and a 200-day moving average of $2.40. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $509.95 million, a PE ratio of -0.16, a PEG ratio of 0.48 and a beta of 1.16.

Alight (NYSE:ALIT) last released its earnings results on Thursday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. The company had revenue of $653.00 million during the quarter, compared to analyst estimates of $654.30 million. Sell-side analysts anticipate that Alight will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In other Alight news, CEO Rohit Verma acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average cost of $0.77 per share, with a total value of $77,000.00. Following the acquisition, the chief executive officer directly owned 1,022,883 shares of the company’s stock, valued at approximately $787,619.91. The trade was a 10.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.93% of the company’s stock.

Institutional Trading of Alight

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after acquiring an additional 3,138 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Alight by 4.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock valued at $411,000 after purchasing an additional 3,295 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Alight by 68.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after purchasing an additional 3,300 shares in the last quarter. Winslow Asset Management Inc. increased its position in Alight by 21.7% during the 2nd quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after purchasing an additional 3,450 shares during the period. Finally, Strs Ohio purchased a new position in shares of Alight during the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group cut their price objective on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. DA Davidson cut their price objective on Alight from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Citigroup cut Alight from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.50 to $1.00 in a research note on Friday, February 20th. Finally, Needham & Company LLC cut shares of Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.56.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.