Alight, Inc. (NYSE:ALIT) Short Interest Down 14.6% in April

Alight, Inc. (NYSE:ALIT - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 25,910,000 shares, a decrease of 14.6% from the March 31st total of 30,330,000 shares. Based on an average trading volume of 8,740,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 5.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALIT shares. Wedbush restated an "outperform" rating and issued a $11.00 price objective on shares of Alight in a report on Tuesday, March 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Finally, DA Davidson reiterated a "buy" rating and issued a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $10.19.

Alight Trading Up 2.5 %

NYSE:ALIT opened at $5.33 on Friday. 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 business's 50-day simple moving average is $5.67 and its 200-day simple moving average is $6.62. Alight has a fifty-two week low of $4.49 and a fifty-two week high of $9.45. The stock has a market capitalization of $2.89 billion, a PE ratio of -17.77 and a beta of 0.97.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Sell-side analysts expect that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, June 2nd. Alight's dividend payout ratio (DPR) is presently -53.33%.

Insiders Place Their Bets

In other news, Director Richard N. Massey acquired 100,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert A. Schriesheim acquired 22,092 shares of the company's stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 125,092 shares of company stock valued at $807,755 in the last 90 days. 5.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALIT. Barclays PLC boosted its position in Alight by 148.2% during the 3rd quarter. Barclays PLC now owns 815,841 shares of the company's stock worth $6,037,000 after acquiring an additional 487,185 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Alight by 9.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 119,700 shares of the company's stock worth $868,000 after purchasing an additional 10,800 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alight by 202.8% in the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock valued at $13,794,000 after purchasing an additional 1,248,465 shares in the last quarter. Blue Trust Inc. increased its stake in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after buying an additional 1,729 shares during the last quarter. Finally, KBC Group NV lifted its position in Alight by 89.2% during the 4th quarter. KBC Group NV now owns 22,802 shares of the company's stock worth $158,000 after buying an additional 10,753 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.

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