Barclays PLC Has $6.04 Million Stock Position in Alight, Inc. (NYSE:ALIT)

Barclays PLC increased its position in shares of Alight, Inc. (NYSE:ALIT) by 148.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 815,841 shares of the company’s stock after acquiring an additional 487,185 shares during the quarter. Barclays PLC owned about 0.15% of Alight worth $6,037,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Rubric Capital Management LP bought a new stake in Alight during the 2nd quarter worth about $62,162,000. Dimensional Fund Advisors LP raised its stake in shares of Alight by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after buying an additional 3,342,413 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Alight by 100.9% in the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company’s stock valued at $26,385,000 after buying an additional 1,795,830 shares during the period. Victory Capital Management Inc. boosted its stake in Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after acquiring an additional 1,358,020 shares during the last quarter. Finally, Engine Capital Management LP acquired a new stake in Alight during the 2nd quarter worth $9,594,000. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

ALIT has been the topic of a number of analyst reports. Citigroup cut their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Canaccord Genuity Group increased their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp raised their target price on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC upped their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.83.

Alight Trading Down 1.2 %

NYSE:ALIT opened at $6.76 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50-day simple moving average is $7.44 and its 200-day simple moving average is $7.31. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The stock has a market capitalization of $3.67 billion, a PE ratio of -14.08 and a beta of 0.92.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Alight, Inc. will post 0.47 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.04 per share. The ex-dividend date was Monday, December 2nd.

Insider Buying and Selling at Alight

In other news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the completion of the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory A. George sold 84,929 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the completion of the sale, the insider now directly owns 223,327 shares in the company, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,334,929 shares of company stock valued at $43,895,460 in the last 90 days. 5.33% of the stock is currently owned by company insiders.

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.