Short Interest in Alight, Inc. (NYSE:ALIT) Decreases By 14.6%

Alight, Inc. (NYSE:ALIT - Get Free Report) was the target of a large decrease in short interest in 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 daily volume of 8,740,000 shares, the days-to-cover ratio is presently 3.0 days. Currently, 5.6% of the company's stock are short sold.

Insider Buying and Selling

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

Hedge Funds Weigh In On Alight

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

Alight Stock Up 7.9 %

NYSE:ALIT traded up $0.42 during trading hours on Thursday, hitting $5.65. 5,616,232 shares of the company's stock traded hands, compared to its average volume of 6,429,725. The firm has a market cap of $3.07 billion, a P/E ratio of -18.85 and a beta of 0.99. Alight has a twelve month low of $4.49 and a twelve month high of $8.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock's fifty day moving average price is $5.57 and its two-hundred day moving average price is $6.58.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. On average, research analysts expect that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, June 2nd. Alight's payout ratio is presently -53.33%.

Analyst Upgrades and Downgrades

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

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.