Short Interest in Alight, Inc. (NYSE:ALIT) Drops By 15.4%

Alight, Inc. (NYSE:ALIT) saw a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 31,278,114 shares, a decline of 15.4% from the January 29th total of 36,957,062 shares. Based on an average daily volume of 12,213,443 shares, the days-to-cover ratio is presently 2.6 days. Currently, 6.0% of the company’s stock are sold short. Currently, 6.0% of the company’s stock are sold short. Based on an average daily volume of 12,213,443 shares, the days-to-cover ratio is presently 2.6 days.

Alight Stock Performance

Shares of NYSE:ALIT traded up $0.07 on Wednesday, hitting $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 market capitalization of $508.94 million, a price-to-earnings ratio of -0.16, a price-to-earnings-growth ratio of 0.49 and a beta of 1.16. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.31 and a current ratio of 1.31. Alight has a 12 month low of $0.65 and a 12 month high of $6.57. The stock’s 50-day moving average is $1.48 and its two-hundred day moving average is $2.41.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share 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 positive return on equity of 9.61% and a negative net margin of 136.91%. On average, equities research analysts forecast that Alight will post 0.54 EPS for the current year.

Wall Street Analyst Weigh In

ALIT has been the topic of several recent analyst reports. Wedbush cut 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. KeyCorp lowered shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Citigroup downgraded Alight from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $6.50 to $1.00 in a research note on Friday, February 20th. DA Davidson reduced their price target on shares of Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, UBS Group decreased their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.56.

Insider Activity

In other Alight news, CEO Rohit Verma bought 100,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were bought at an average cost of $0.77 per share, with a total value of $77,000.00. Following the transaction, the chief executive officer directly owned 1,022,883 shares in the company, valued at approximately $787,619.91. This trade represents a 10.84% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Alight by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 43,783,776 shares of the company’s stock worth $85,378,000 after purchasing an additional 1,205,027 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Alight by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 25,937,324 shares of the company’s stock worth $84,558,000 after buying an additional 348,285 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Alight by 87.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 24,777,535 shares of the company’s stock valued at $48,316,000 after buying an additional 11,534,921 shares during the period. Rubric Capital Management LP boosted its stake in Alight by 10.8% during the second quarter. Rubric Capital Management LP now owns 19,626,953 shares of the company’s stock valued at $111,089,000 after buying an additional 1,906,140 shares in the last quarter. Finally, Cooper Creek Partners Management LLC grew its holdings in Alight by 6.6% during the third quarter. Cooper Creek Partners Management LLC now owns 19,168,119 shares of the company’s stock worth $62,488,000 after acquiring an additional 1,187,092 shares during the period. 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.