Alight, Inc. (NYSE:ALIT) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in Alight, Inc. (NYSE:ALIT) by 8.1% during the second quarter, Holdings Channel reports. The fund owned 107,340 shares of the company’s stock after buying an additional 8,043 shares during the quarter. Arizona State Retirement System’s holdings in Alight were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ALIT. Vanguard Group Inc. grew its holdings in Alight by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock worth $300,247,000 after acquiring an additional 547,614 shares during the period. Bullseye Asset Management LLC raised its stake in shares of Alight by 34.1% during the 4th quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock worth $4,533,000 after buying an additional 135,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Alight by 33.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock valued at $103,826,000 after buying an additional 3,018,711 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Alight by 20.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock valued at $11,161,000 after acquiring an additional 192,405 shares during the period. Finally, Wedge Capital Management L L P NC increased its holdings in Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after acquiring an additional 76,485 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

Shares of Alight stock opened at $7.23 on Friday. 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 business’s 50 day moving average price is $7.17 and its 200 day moving average price is $8.03. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -11.66, a PEG ratio of 1.74 and a beta of 0.86. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38.

Alight (NYSE:ALIT) last announced 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 firm had revenue of $787.00 million for the quarter, compared to analysts’ expectations of $791.22 million. On average, research analysts predict that Alight, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ALIT shares. Bank of America decreased their price objective on shares of Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. cut 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. DA Davidson reiterated a “buy” rating and set a $12.00 price objective on shares of Alight in a research note on Thursday, June 20th. Wedbush decreased their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC lowered their price target on Alight from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

Insider Buying and Selling at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following the completion of the transaction, the chief operating officer now directly owns 2,880,753 shares in the company, valued at $20,482,153.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.33% of the stock is currently owned by company insiders.

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.