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

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALIT. Needham & Company LLC boosted their target price on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup dropped their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. KeyCorp upped their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Canaccord Genuity Group upped their price objective on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, 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 report on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Insider Buying and Selling

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

Institutional Investors Weigh In On Alight

A number of institutional investors have recently added to or reduced their stakes in ALIT. Public Employees Retirement System of Ohio grew its position in shares of Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after acquiring an additional 1,996 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after acquiring an additional 2,961 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Alight during the 3rd quarter valued at approximately $74,000. KBC Group NV grew its position in shares of Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares during the period. Finally, Soros Fund Management LLC bought a new position in shares of Alight during the 3rd quarter valued at approximately $89,000. 96.74% of the stock is owned by institutional investors.

Alight Stock Up 0.5 %

Shares of NYSE:ALIT traded up $0.04 during midday trading on Monday, hitting $8.00. 1,157,020 shares of the company’s stock were exchanged, compared to its average volume of 5,727,855. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a 50 day moving average price of $7.41 and a 200-day moving average price of $7.36. The company has a market cap of $4.34 billion, a PE ratio of -16.54 and a beta of 0.91. Alight has a 12 month low of $6.15 and a 12 month 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 analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same period in the prior year, the firm posted $0.07 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alight will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

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

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.