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

Alight, Inc. (NYSE:ALIT) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 41,121,316 shares, an increase of 31.5% from the February 12th total of 31,278,114 shares. Currently, 7.8% of the company’s shares are sold short. Based on an average daily trading volume, of 46,160,073 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 46,160,073 shares, the days-to-cover ratio is currently 0.9 days. Currently, 7.8% of the company’s shares are sold short.

Insider Activity

In related news, CEO Rohit Verma bought 112,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $0.89 per share, with a total value of $99,680.00. Following the completion of the transaction, the chief executive officer directly owned 1,134,883 shares of the company’s stock, valued at $1,010,045.87. This represents a 10.95% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alight

Several hedge funds and other institutional investors have recently made changes to their positions in ALIT. Royal Bank of Canada increased its holdings in Alight by 3.6% in the first quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock valued at $948,000 after purchasing an additional 5,525 shares during the last quarter. AQR Capital Management LLC bought a new stake in Alight during the 1st quarter worth about $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alight by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock valued at $1,481,000 after buying an additional 10,893 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock worth $67,000 after purchasing an additional 10,657 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alight by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock worth $6,091,000 after purchasing an additional 66,771 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Price Performance

Shares of NYSE:ALIT traded down $0.12 on Monday, reaching $0.79. 77,115,239 shares of the company traded hands, compared to its average volume of 45,274,592. 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 has a market capitalization of $423.32 million, a PE ratio of -0.13, a P/E/G ratio of 0.50 and a beta of 1.17. Alight has a fifty-two week low of $0.65 and a fifty-two week high of $6.39. The company’s 50 day moving average is $1.30 and its 200-day moving average is $2.22.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $654.30 million. Alight had a negative net margin of 136.91% and a positive return on equity of 9.61%. As a group, analysts anticipate that Alight will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALIT. DA Davidson dropped their price target on Alight from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. KeyCorp cut shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th. Bank of America initiated coverage on shares of Alight in a research note on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price objective on the stock. Wall Street Zen lowered shares of Alight from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.56.

Alight Company Profile

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.