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

Alight, Inc. (NYSE:ALIT) was the target of a large drop in short interest during 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 short sold. Based on an average daily volume of 6,270,000 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

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

Alight Stock Down 2.1 %

Alight stock traded down $0.19 during trading hours on Tuesday, reaching $9.02. The stock had a trading volume of 2,163,784 shares, compared to its average volume of 6,387,064. Alight has a 52 week low of $6.33 and a 52 week high of $10.38. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 1.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. The business’s 50 day moving average price is $9.26 and its 200-day moving average price is $8.50.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. The firm had revenue of $960.00 million during the quarter, compared to analyst estimates of $1.03 billion. Sell-side analysts anticipate that Alight will post 0.5 EPS for the current year.

Insider Activity

In related news, CEO Stephan Scholl sold 428,574 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total value of $4,204,310.94. Following the completion of the sale, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alight news, insider Katie J. Rooney sold 26,164 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephan Scholl sold 428,574 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $9.81, for a total value of $4,204,310.94. Following the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at approximately $80,424,332.19. The disclosure for this sale can be found here. Insiders sold 550,129 shares of company stock valued at $12,449,117 in the last ninety days. Insiders own 3.66% of the company’s stock.

Hedge Funds Weigh In On Alight

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Alight by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock valued at $300,247,000 after acquiring an additional 547,614 shares in the last quarter. Fidelity National Financial Inc. grew its position in Alight by 11.5% during the 4th quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after purchasing an additional 2,300,000 shares during the last quarter. Glenview Capital Management LLC increased its stake in Alight by 11.2% during the 4th quarter. Glenview Capital Management LLC now owns 18,202,012 shares of the company’s stock valued at $155,263,000 after purchasing an additional 1,835,481 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Alight by 33.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after buying an additional 3,018,711 shares during the last quarter. Finally, River Road Asset Management LLC lifted its stake in shares of Alight by 2.9% during the fourth quarter. River Road Asset Management LLC now owns 9,360,406 shares of the company’s stock worth $79,844,000 after buying an additional 263,242 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

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.