Oppenheimer Asset Management Inc. Sells 33,360 Shares of Alight, Inc. (NYSE:ALIT)

Oppenheimer Asset Management Inc. lowered its holdings in Alight, Inc. (NYSE:ALIT) by 35.0% in the second quarter, Holdings Channel reports. The firm owned 61,888 shares of the company’s stock after selling 33,360 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Alight were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Ingalls & Snyder LLC boosted its stake in shares of Alight by 20.9% during the 2nd 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 last quarter. Saxon Interests Inc. boosted its position in Alight by 15.4% during the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company’s stock valued at $194,000 after purchasing an additional 2,632 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of Alight by 6.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company’s stock worth $518,000 after purchasing an additional 3,856 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Alight by 18.3% during the 4th quarter. Neuberger Berman Group LLC now owns 28,359 shares of the company’s stock worth $242,000 after purchasing an additional 4,385 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Alight Stock Down 1.9 %

ALIT stock opened at $7.33 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of -11.82, a PEG ratio of 1.77 and a beta of 0.86. The business’s fifty day moving average price is $7.19 and its two-hundred day moving average price is $7.98. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 EPS 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 the consensus estimate of $791.22 million. On average, equities analysts anticipate that Alight, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of the business’s 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 sale, 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 filing with the SEC, which is available at this link. Insiders own 5.33% of the company’s stock.

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.