Alight, Inc. (NYSE:ALIT) Sees Significant Decrease in Short Interest

Alight, Inc. (NYSE:ALIT) was the recipient of a significant 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 trading volume of 12,213,443 shares, the short-interest ratio is currently 2.6 days. Approximately 6.0% of the shares of the stock are sold short. Approximately 6.0% of the shares of the stock are sold short. Based on an average trading volume of 12,213,443 shares, the short-interest ratio is currently 2.6 days.

Alight Trading Up 8.4%

Shares of ALIT stock traded up $0.07 during mid-day trading on Wednesday, reaching $0.95. The company’s stock had a trading volume of 34,130,515 shares, compared to its average volume of 20,926,467. 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 firm has a market capitalization of $508.94 million, a PE ratio of -0.16, a price-to-earnings-growth ratio of 0.49 and a beta of 1.16. The company’s 50 day simple moving average is $1.48 and its 200-day simple moving average is $2.41. Alight has a 12-month low of $0.65 and a 12-month high of $6.57.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on ALIT shares. Bank of America assumed coverage on Alight in a research report on Tuesday, February 17th. They set an “underperform” rating and a $1.40 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alight in a research note on Wednesday, January 21st. Citigroup cut shares of Alight from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $6.50 to $1.00 in a research note on Friday, February 20th. Wedbush reduced their price target on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, UBS Group dropped their price objective on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.56.

Insider Buying and Selling

In other Alight news, CEO Rohit Verma bought 100,000 shares of Alight stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $0.77 per share, with a total value of $77,000.00. Following the completion of the acquisition, the chief executive officer owned 1,022,883 shares in the company, valued at $787,619.91. The trade was a 10.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company 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. TradeLink Capital LLC acquired a new stake in Alight during the 4th quarter valued at $25,000. Strs Ohio purchased a new position in Alight in the 1st quarter valued at about $25,000. Moss Adams Wealth Advisors LLC purchased a new position in Alight in the 4th quarter valued at about $26,000. Renaissance Technologies LLC acquired a new stake in shares of Alight during the fourth quarter valued at about $26,000. Finally, Allworth Financial LP increased its position in shares of Alight by 848.5% during the fourth quarter. Allworth Financial LP now owns 14,920 shares of the company’s stock worth $29,000 after acquiring an additional 13,347 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

About Alight

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.