Amalgamated Bank Raises Holdings in Alight, Inc. (NYSE:ALIT)

Amalgamated Bank grew its stake in shares of Alight, Inc. (NYSE:ALIT) by 16.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,434 shares of the company’s stock after buying an additional 2,289 shares during the period. Amalgamated Bank’s holdings in Alight were worth $121,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Alight by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock worth $300,247,000 after purchasing an additional 547,614 shares during the last quarter. Bullseye Asset Management LLC increased its position in Alight by 34.1% during the 4th quarter. Bullseye Asset Management LLC now owns 531,425 shares of the company’s stock valued at $4,533,000 after purchasing an additional 135,000 shares during the period. Russell Investments Group Ltd. raised its holdings in Alight by 20.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock worth $11,161,000 after purchasing an additional 192,405 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Alight by 15.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock worth $4,314,000 after purchasing an additional 76,485 shares during the period. Finally, HBK Investments L P boosted its stake in shares of Alight by 33.3% during the 4th quarter. HBK Investments L P now owns 800,000 shares of the company’s stock valued at $6,824,000 after purchasing an additional 200,000 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Trading Down 2.6 %

Shares of ALIT stock opened at $7.21 on Wednesday. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38. The firm has a fifty day moving average price of $7.19 and a 200-day moving average price of $7.87. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -11.63 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37.

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

Insider Buying and Selling

In related news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction 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 in the company, valued at approximately $20,482,153.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALIT has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Monday. Citigroup lowered their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a research note on Tuesday, August 20th. Bank of America decreased their price objective on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a report on Tuesday, June 25th. Finally, DA Davidson restated a “buy” rating and issued a $12.00 target price on shares of Alight in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.