Short Interest in Alight, Inc. (NYSE:ALIT) Drops By 48.2%

Alight, Inc. (NYSE:ALIT) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 18,995,183 shares, a drop of 48.2% from the June 15th total of 36,657,802 shares. Currently, 72.6% of the shares of the company are sold short. Based on an average daily trading volume, of 39,808,326 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALIT. Strs Ohio acquired a new stake in Alight in the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its holdings in Alight by 152.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after purchasing an additional 3,138 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Alight in the third quarter valued at about $31,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Alight in the second quarter valued at about $64,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock worth $67,000 after purchasing an additional 10,657 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Price Performance

Shares of Alight stock traded up $0.14 on Friday, hitting $21.71. The company’s stock had a trading volume of 480,384 shares, compared to its average volume of 1,387,295. The company has a market capitalization of $580.31 million, a price-to-earnings ratio of -0.18, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. Alight has a 1 year low of $9.58 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a fifty day moving average price of $15.38 and a 200-day moving average price of $19.45.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. DA Davidson boosted their price target on Alight from $2.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings cut shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.57.

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.