Short Interest in Alight, Inc. (NYSE:ALIT) Rises By 17.6%

Alight, Inc. (NYSE:ALIT) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 33,620,000 shares, a growth of 17.6% from the June 15th total of 28,600,000 shares. Approximately 7.6% of the company’s shares are short sold. Based on an average daily volume of 5,250,000 shares, the days-to-cover ratio is currently 6.4 days.

Alight Trading Down 3.6 %

Shares of NYSE:ALIT opened at $7.09 on Wednesday. Alight has a 12 month low of $6.33 and a 12 month high of $10.38. The stock’s 50 day moving average price is $7.51 and its 200 day moving average price is $8.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $832.41 million. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. As a group, equities research analysts anticipate that Alight will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America reduced their target price on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Canaccord Genuity Group lifted their target price on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. UBS 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 decreased their target price on Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, DA Davidson restated a “buy” rating and issued a $12.00 target price on shares of Alight in a research note on Thursday, June 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.61.

Insider Transactions at Alight

In other news, COO Katie J. Rooney sold 47,851 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $7.11, for a total transaction of $340,220.61. Following the sale, the chief operating officer now owns 2,880,753 shares in the company, valued at $20,482,153.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new stake in Alight during the 1st quarter valued at $571,000. Redwood Investment Management LLC acquired a new stake in Alight during the 1st quarter valued at $3,232,000. Levin Capital Strategies L.P. acquired a new stake in Alight during the 1st quarter valued at $246,000. Ancora Advisors LLC raised its stake in Alight by 20.6% during the 1st quarter. Ancora Advisors LLC now owns 1,668,788 shares of the company’s stock valued at $16,438,000 after purchasing an additional 285,179 shares during the period. Finally, Invenomic Capital Management LP raised its stake in Alight by 19.6% during the 1st quarter. Invenomic Capital Management LP now owns 1,158,923 shares of the company’s stock valued at $11,415,000 after purchasing an additional 189,783 shares during the period. Institutional investors own 96.74% of the company’s stock.

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.