Alight, Inc. (NYSE:ALIT) Short Interest Down 9.1% in November

by · The Markets Daily

Alight, Inc. (NYSE:ALIT – Get Free Report) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 33,400,000 shares, a drop of 9.1% from the October 31st total of 36,740,000 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average daily volume of 5,010,000 shares, the short-interest ratio is presently 6.7 days.

Alight Price Performance

ALIT stock traded down $0.12 during trading on Tuesday, hitting $7.90. The company had a trading volume of 5,755,485 shares, compared to its average volume of 5,739,718. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.29 billion, a P/E ratio of -16.46 and a beta of 0.92. The company has a fifty day moving average price of $7.43 and a two-hundred day moving average price of $7.36. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities research analysts expect that Alight will post 0.47 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Analyst Ratings Changes

A number of research firms have weighed in on ALIT. Needham & Company LLC upped their price target on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wedbush dropped their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 20th. KeyCorp boosted their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Read Our Latest Stock Report on Alight

Insider Transactions at Alight

In other Alight news, President Gregory R. Goff sold 250,000 shares of Alight stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total value of $2,000,000.00. Following the completion of the transaction, the president now directly owns 852,694 shares of the company’s stock, valued at approximately $6,821,552. The trade was a 22.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,334,929 shares of company stock valued at $43,895,460. Company insiders own 5.33% of the company’s stock.

Hedge Funds Weigh In On Alight

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alight by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 224,584 shares of the company’s stock valued at $2,213,000 after purchasing an additional 15,287 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Alight in the 1st quarter valued at $571,000. Wedge Capital Management L L P NC boosted its holdings in shares of Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock valued at $4,314,000 after purchasing an additional 76,485 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Alight by 100.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock valued at $26,385,000 after acquiring an additional 1,795,830 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

(Get Free Report)

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.

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