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

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

Insider Activity

In related news, insider Gregory A. George sold 84,929 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the sale, the insider now owns 223,327 shares of the company’s stock, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the sale, the director now directly owns 883,323 shares in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their position. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alight

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC increased its stake in Alight by 15.1% in the second quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock valued at $4,314,000 after acquiring an additional 76,485 shares during the last quarter. Highland Peak Capital LLC bought a new stake in shares of Alight during the third quarter worth $5,315,000. Victory Capital Management Inc. grew its stake in shares of Alight by 28.3% during the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock worth $45,465,000 after buying an additional 1,358,020 shares during the last quarter. River Road Asset Management LLC grew its stake in shares of Alight by 2.9% during the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after buying an additional 286,133 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Alight by 13.9% during the second quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock worth $5,587,000 after buying an additional 92,235 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. KeyCorp raised their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a report on Tuesday, August 20th. Wedbush decreased their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Needham & Company LLC raised their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group raised their price objective on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Alight Stock Performance

ALIT stock traded up $0.04 during mid-day trading on Monday, hitting $8.00. 1,157,020 shares of the company were exchanged, compared to its average volume of 5,727,855. The business has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $7.36. 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 stock has a market capitalization of $4.34 billion, a PE ratio of -16.54 and a beta of 0.91. Alight has a 1-year low of $6.15 and a 1-year high of $10.38.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.07 earnings per share. On average, equities analysts forecast that Alight will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

About Alight

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.