Alight, Inc. (NYSE:ALIT) Short Interest Down 5.0% in April

Alight, Inc. (NYSE:ALIT) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 19,730,000 shares, a drop of 5.0% from the March 31st total of 20,770,000 shares. Approximately 4.7% of the company’s shares are sold short. Based on an average trading volume of 6,270,000 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ALIT shares. UBS Group boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Canaccord Genuity Group boosted their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and set a $12.00 price objective on shares of Alight in a research report on Friday, January 5th. Needham & Company LLC boosted their target price on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Alight in a report on Thursday, April 25th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.71.

Insider Transactions at Alight

In other news, insider Katie J. Rooney sold 26,164 shares of Alight stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total transaction of $234,167.80. Following the completion of the sale, the insider now owns 2,963,694 shares of the company’s stock, valued at $26,525,061.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares in the company, valued at $26,525,061.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephan Scholl sold 83,016 shares of Alight stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares of the company’s stock, valued at $771,753,903.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,129 shares of company stock valued at $12,449,117. 3.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALIT. Greenlight Capital Inc. acquired a new stake in Alight during the 4th quarter worth approximately $78,831,000. Norges Bank purchased a new stake in shares of Alight during the fourth quarter worth $42,947,000. Fidelity National Financial Inc. raised its stake in shares of Alight by 33.3% in the third quarter. Fidelity National Financial Inc. now owns 20,000,000 shares of the company’s stock valued at $141,800,000 after acquiring an additional 5,000,000 shares in the last quarter. UBS Group AG boosted its holdings in Alight by 1,767.5% in the fourth quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock valued at $42,633,000 after purchasing an additional 4,730,410 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Alight by 33.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after purchasing an additional 3,018,711 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Trading Down 0.4 %

Shares of NYSE ALIT opened at $8.99 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $9.26 and a 200 day moving average of $8.50. Alight has a 12-month low of $6.33 and a 12-month high of $10.38.

Alight (NYSE:ALIT) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. On average, sell-side analysts expect that Alight will post 0.5 EPS for the current fiscal year.

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.