DME Capital Management LP Lowers Holdings in Alight, Inc. (NYSE:ALIT)

DME Capital Management LP lowered its position in Alight, Inc. (NYSE:ALIT) by 3.9% in the second quarter, Holdings Channel.com reports. The fund owned 11,074,090 shares of the company’s stock after selling 453,840 shares during the period. Alight makes up 4.0% of DME Capital Management LP’s investment portfolio, making the stock its 8th largest holding. DME Capital Management LP’s holdings in Alight were worth $81,727,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of Alight by 65.3% in the 2nd 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 during the period. Motco acquired a new position in Alight during the first quarter worth $95,000. Ingalls & Snyder LLC boosted its stake in shares of Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Alight in the 2nd quarter worth about $105,000. Finally, Duality Advisers LP acquired a new stake in shares of Alight during the 1st quarter worth about $119,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Transactions at Alight

In related news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the transaction, the chief operating officer now owns 2,880,753 shares of the company’s stock, valued at approximately $20,482,153.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.33% of the company’s stock.

Alight Price Performance

ALIT opened at $7.17 on Thursday. The company has a fifty day moving average price of $7.20 and a two-hundred day moving average price of $7.93. The firm has a market capitalization of $3.92 billion, a PE ratio of -11.56 and a beta of 0.86. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. As a group, analysts anticipate that Alight, Inc. will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on ALIT. 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 research note on Tuesday, June 25th. Citigroup cut 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. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a report on Tuesday, August 20th. KeyCorp cut their price target on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, DA Davidson reissued a “buy” rating and set a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Alight Company 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.