Alight, Inc. (NYSE:ALIT) Shares Acquired by Fmr LLC

Fmr LLC lifted its stake in shares of Alight, Inc. (NYSE:ALIT) by 44.4% during the third quarter, Holdings Channel reports. The fund owned 11,995 shares of the company’s stock after acquiring an additional 3,689 shares during the period. Fmr LLC’s holdings in Alight were worth $89,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Alight by 65.3% during the 2nd 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 period. Oppenheimer & Co. Inc. acquired a new position in shares of Alight during the third quarter worth about $74,000. KBC Group NV increased its stake in shares of Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares during the period. Ingalls & Snyder LLC raised its holdings in Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after acquiring an additional 2,235 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Alight in the third quarter worth approximately $105,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Performance

NYSE ALIT opened at $6.77 on Tuesday. The company has a fifty day moving average of $7.44 and a two-hundred day moving average of $7.30. The company has a market capitalization of $3.68 billion, a PE ratio of -14.10 and a beta of 0.92. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

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

Alight Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALIT. Needham & Company LLC increased their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp raised their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Citigroup lowered their price objective on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Insider Activity at Alight

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