Headlands Technologies LLC Makes New Investment in Alight, Inc. (NYSE:ALIT)

Headlands Technologies LLC acquired a new stake in shares of Alight, Inc. (NYSE:ALIT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 34,048 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors have also recently made changes to their positions in ALIT. Corbyn Investment Management Inc. MD boosted its stake in Alight by 8.6% in the 2nd quarter. Corbyn Investment Management Inc. MD now owns 686,119 shares of the company’s stock worth $5,064,000 after purchasing an additional 54,204 shares in the last quarter. Chicago Capital LLC purchased a new position in shares of Alight in the second quarter worth $3,357,000. Arizona State Retirement System raised its holdings in shares of Alight by 8.1% in the second quarter. Arizona State Retirement System now owns 107,340 shares of the company’s stock worth $792,000 after buying an additional 8,043 shares during the last quarter. Victory Capital Management Inc. lifted 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 period. Finally, Rhumbline Advisers grew its holdings in shares of Alight by 13.9% during the second quarter. Rhumbline Advisers now owns 757,020 shares of the company’s stock valued at $5,587,000 after buying an additional 92,235 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Buying and Selling at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $7.11, for a total value of $340,220.61. Following the completion of the sale, the chief operating officer now owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.33% of the stock is owned by corporate insiders.

Alight Stock Up 1.0 %

ALIT stock opened at $7.23 on Friday. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s fifty day moving average is $7.17 and its 200 day moving average is $8.03. The firm has a market cap of $3.95 billion, a PE ratio of -11.66, a P/E/G ratio of 1.72 and a beta of 0.86.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $791.22 million. On average, research analysts forecast that Alight, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on ALIT shares. Bank of America dropped their price target on Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Citigroup dropped their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush reduced their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 20th. Finally, KeyCorp reduced their target price on shares of Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

Alight 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.