Short Interest in Alight, Inc. (NYSE:ALIT) Increases By 8.2%

Alight, Inc. (NYSE:ALIT) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 37,850,000 shares, a growth of 8.2% from the August 15th total of 34,990,000 shares. Currently, 8.6% of the company’s stock are sold short. Based on an average trading volume of 5,110,000 shares, the short-interest ratio is presently 7.4 days.

Alight Stock Up 0.4 %

ALIT opened at $7.24 on Thursday. The company has a 50 day moving average of $7.18 and a 200 day moving average of $7.99. The company has a market cap of $3.96 billion, a PE ratio of -11.68, a price-to-earnings-growth ratio of 1.77 and a beta of 0.86. Alight has a 12 month low of $6.15 and a 12 month high of $10.38. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $787.00 million during the quarter, compared to the consensus estimate of $791.22 million. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. On average, sell-side analysts expect that Alight will post 0.42 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on ALIT shares. KeyCorp decreased their price objective on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. DA Davidson reiterated a “buy” rating and issued a $12.00 price objective on shares of Alight in a research note on Thursday, June 20th. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research note on Tuesday, August 20th. Wedbush decreased their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC decreased their price target on shares of Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Insider Buying and Selling

In related news, COO Katie J. Rooney sold 47,851 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $7.11, for a total value of $340,220.61. Following the sale, the chief operating officer now owns 2,880,753 shares in the company, valued at approximately $20,482,153.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALIT. Nisa Investment Advisors LLC boosted its holdings in Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after buying an additional 2,961 shares during the period. Motco bought a new position in Alight in the 1st quarter valued at $95,000. Ingalls & Snyder LLC boosted its holdings in Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares during the period. CIBC Asset Management Inc bought a new position in Alight in the 2nd quarter valued at $105,000. Finally, Duality Advisers LP bought a new position in Alight in the 1st quarter valued at $119,000. 96.74% of the stock is owned by institutional investors.

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.