AQR Capital Management LLC Raises Stake in Alight, Inc. (NYSE:ALIT)

AQR Capital Management LLC raised its position in shares of Alight, Inc. (NYSE:ALIT) by 293.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,010 shares of the company’s stock after purchasing an additional 73,855 shares during the quarter. AQR Capital Management LLC’s holdings in Alight were worth $731,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the last quarter. Motco bought a new stake in Alight in the first quarter worth $95,000. Duality Advisers LP bought a new stake in Alight in the first quarter worth $119,000. Ingalls & Snyder LLC increased its position in 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 purchasing an additional 2,235 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Alight in the second quarter worth $105,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

ALIT opened at $7.16 on Monday. Alight, Inc. has a 52-week low of $6.15 and a 52-week high of $10.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a market cap of $3.91 billion, a P/E ratio of -16.27 and a beta of 0.86. The firm’s 50-day moving average price is $7.15 and its 200-day moving average price is $7.74.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share (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 firm had revenue of $787.00 million for the quarter, compared to the consensus estimate of $791.22 million. As a group, equities analysts anticipate that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALIT. DA Davidson restated a “buy” rating and issued a $12.00 price target on shares of Alight in a research report on Thursday, June 20th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Alight in a research report on Monday, September 30th. JPMorgan Chase & Co. cut shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research report on Tuesday, August 20th. Citigroup lowered their target price 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. Finally, KeyCorp lowered their price objective 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.