Alight, Inc. (NYSE:ALIT) Short Interest Update

Alight, Inc. (NYSE:ALIT) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 37,820,000 shares, a drop of 5.8% from the September 30th total of 40,140,000 shares. Based on an average daily trading volume, of 4,380,000 shares, the short-interest ratio is presently 8.6 days. Approximately 8.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALIT shares. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Alight in a report on Monday, September 30th. Wedbush cut their price target on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup reduced their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. Finally, KeyCorp decreased their price target on shares of Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Institutional Investors Weigh In On Alight

Several hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in 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 buying an additional 2,961 shares in the last quarter. Motco purchased a new stake in Alight during the first quarter valued at approximately $95,000. Duality Advisers LP purchased a new stake in shares of Alight in the 1st quarter worth $119,000. Ingalls & Snyder LLC raised its stake in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares during the period. Finally, Innealta Capital LLC bought a new stake in Alight during the 3rd quarter worth approximately $105,000. 96.74% of the stock is currently owned by institutional investors.

Alight Price Performance

NYSE:ALIT opened at $6.80 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $7.22 and a 200 day moving average of $7.52. Alight has a 52 week low of $6.15 and a 52 week high of $10.38.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Alight had a negative net margin of 6.58% and a positive return on equity of 5.42%. The business had revenue of $787.00 million for the quarter, compared to analysts’ expectations of $791.22 million. On average, equities research analysts predict that Alight will post 0.42 earnings per share for the current fiscal year.

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.