Alight, Inc. (NYSE:ALIT) Short Interest Update

Alight, Inc. (NYSE:ALITGet Free Report) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 50,760,201 shares, an increase of 23.4% from the February 26th total of 41,121,316 shares. Currently, 9.7% of the shares of the stock are sold short. Based on an average trading volume of 49,005,128 shares, the days-to-cover ratio is currently 1.0 days.

Insider Activity at Alight

In other news, CEO Rohit Verma bought 112,000 shares of the 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 acquisition, the chief executive officer owned 1,134,883 shares in the company, valued at $1,010,045.87. This trade represents a 10.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 242,000 shares of company stock valued at $201,280. 1.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alight

Several large investors have recently made changes to their positions in ALIT. Aristotle Capital Boston LLC grew its holdings in Alight by 64.7% during the third quarter. Aristotle Capital Boston LLC now owns 3,161,157 shares of the company’s stock valued at $10,305,000 after purchasing an additional 1,241,326 shares during the period. Prudential Financial Inc. raised its holdings in Alight by 14.0% in the second quarter. Prudential Financial Inc. now owns 1,183,796 shares of the company’s stock worth $6,700,000 after purchasing an additional 145,606 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Alight by 17.9% during the third quarter. Neuberger Berman Group LLC now owns 7,250,711 shares of the company’s stock worth $23,651,000 after purchasing an additional 1,102,802 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Alight in the 3rd quarter valued at $6,211,000. Finally, Permanent Capital Management LP bought a new stake in shares of Alight in the 3rd quarter valued at $848,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

ALIT has been the subject of several recent analyst reports. Citigroup lowered shares of Alight from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $6.50 to $1.00 in a report on Friday, February 20th. Needham & Company LLC lowered Alight from a “buy” rating to a “hold” rating in a research report on Thursday, February 19th. KeyCorp cut Alight from an “overweight” rating to a “sector weight” rating in a report on Thursday, February 19th. Wall Street Zen downgraded Alight from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, DA Davidson reduced their price objective on Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Three 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.56.

Check Out Our Latest Analysis on ALIT

Alight Price Performance

Shares of ALIT stock traded up $0.03 during trading hours on Tuesday, reaching $0.58. 26,617,503 shares of the company were exchanged, compared to its average volume of 50,896,244. Alight has a fifty-two week low of $0.50 and a fifty-two week high of $6.11. 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 stock’s fifty day moving average is $1.07 and its two-hundred day moving average is $1.98. The company has a market cap of $312.15 million, a price-to-earnings ratio of -0.10, a P/E/G ratio of 0.30 and a beta of 1.16.

Alight (NYSE:ALITGet Free Report) last issued its quarterly earnings results 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). 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 forecast that Alight will post 0.54 earnings per share for the current fiscal year.

Key Alight News

Here are the key news stories impacting Alight this week:

Alight Company Profile

(Get Free Report)

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.

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