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

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently made changes to their positions in the company. Corsair Capital Management L.P. bought a new position in Alight during the fourth quarter worth about $24,701,000. Goldman Sachs Group Inc. boosted its holdings in Alight by 87.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock valued at $48,316,000 after purchasing an additional 11,534,921 shares during the period. Wellington Management Group LLP boosted its holdings in Alight by 289.1% in the 3rd quarter. Wellington Management Group LLP now owns 13,909,404 shares of the company’s stock valued at $45,345,000 after purchasing an additional 10,334,915 shares during the period. Millennium Management LLC grew its position in shares of Alight by 13,050.9% during the 3rd quarter. Millennium Management LLC now owns 6,964,185 shares of the company’s stock worth $22,703,000 after purchasing an additional 6,911,229 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Alight by 45,846.2% during the 1st quarter. Renaissance Technologies LLC now owns 6,018,948 shares of the company’s stock worth $3,507,000 after purchasing an additional 6,005,848 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Performance

ALIT traded down $0.20 on Wednesday, reaching $21.73. The company had a trading volume of 577,433 shares, compared to its average volume of 1,398,340. Alight has a fifty-two week low of $9.58 and a fifty-two week high of $116.00. The stock has a market cap of $580.98 million, a P/E ratio of -0.19, a P/E/G ratio of 0.44 and a beta of 1.66. The company’s fifty day moving average is $15.22 and its 200 day moving average is $19.70. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.42 and a current ratio of 1.42.

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.