Short Interest in Alight, Inc. (NYSE:ALIT) Expands By 31.5%

Alight, Inc. (NYSE:ALIT) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 41,121,316 shares, a growth of 31.5% from the February 12th total of 31,278,114 shares. Based on an average trading volume of 46,160,073 shares, the short-interest ratio is presently 0.9 days. Approximately 7.8% of the company’s shares are short sold. Approximately 7.8% of the company’s shares are short sold. Based on an average trading volume of 46,160,073 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

ALIT has been the subject of several recent research reports. KeyCorp downgraded Alight from an “overweight” rating to a “sector weight” rating in a report on Thursday, February 19th. Wall Street Zen cut Alight from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Needham & Company LLC lowered Alight from a “buy” rating to a “hold” rating in a research note on Thursday, February 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Finally, Bank of America assumed coverage on Alight in a report on Tuesday, February 17th. They set an “underperform” rating and a $1.40 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alight currently has a consensus rating of “Hold” and an average target price of $3.56.

Insider Activity at Alight

In other Alight news, CEO Rohit Verma bought 112,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were acquired at an average price of $0.89 per share, with a total value of $99,680.00. Following the purchase, the chief executive officer owned 1,134,883 shares in the company, valued at approximately $1,010,045.87. The trade was a 10.95% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALIT. Corsair Capital Management L.P. acquired a new stake in shares of Alight in the 4th quarter valued at about $24,701,000. Goldman Sachs Group Inc. grew its stake in Alight by 87.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock worth $48,316,000 after purchasing an additional 11,534,921 shares in the last quarter. Wellington Management Group LLP grew its stake in Alight by 289.1% in the third quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock worth $45,345,000 after purchasing an additional 10,334,915 shares in the last quarter. Millennium Management LLC increased its holdings in Alight by 13,050.9% in the third quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock valued at $22,703,000 after buying an additional 6,911,229 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Alight in the second quarter valued at about $32,050,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Up 1.3%

Alight stock traded up $0.01 during midday trading on Friday, hitting $0.92. 32,475,140 shares of the stock were exchanged, compared to its average volume of 44,268,896. Alight has a 1 year low of $0.65 and a 1 year high of $6.39. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $491.21 million, a P/E ratio of -0.16, a P/E/G ratio of 0.50 and a beta of 1.16. The company has a 50 day moving average price of $1.32 and a two-hundred day moving average price of $2.26.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $654.30 million. Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. On average, sell-side analysts predict that Alight will post 0.54 earnings per share for the current fiscal year.

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.