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

Alight, Inc. (NYSE:ALIT) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 33,400,000 shares, a drop of 9.1% from the October 31st total of 36,740,000 shares. Approximately 7.6% of the shares of the company are sold short. Based on an average daily trading volume, of 5,010,000 shares, the short-interest ratio is currently 6.7 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALIT. Canaccord Genuity Group boosted their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup dropped their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. KeyCorp upped their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Wedbush dropped their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research note on Tuesday, August 20th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Insider Activity at Alight

In other news, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the transaction, the insider now owns 223,327 shares of the company’s stock, valued at $1,697,285.20. The trade was a 27.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the president now directly owns 852,694 shares of the company’s stock, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,334,929 shares of company stock worth $43,895,460 in the last three months. Insiders own 5.33% of the company’s stock.

Institutional Investors Weigh In On Alight

Several large investors have recently added to or reduced their stakes in ALIT. Rubric Capital Management LP bought a new position in shares of Alight in the second quarter worth $62,162,000. Dimensional Fund Advisors LP grew its stake in shares of Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after purchasing an additional 3,342,413 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alight by 100.9% in the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock worth $26,385,000 after purchasing an additional 1,795,830 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock worth $45,465,000 after purchasing an additional 1,358,020 shares in the last quarter. Finally, Engine Capital Management LP bought a new position in shares of Alight in the second quarter worth $9,594,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Performance

ALIT stock opened at $7.90 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.29 billion, a P/E ratio of -16.45 and a beta of 0.92. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The stock’s 50 day simple moving average is $7.43 and its 200 day simple moving average is $7.36.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. As a group, equities research analysts predict that Alight will post 0.47 EPS for the current year.

Alight Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.