Creative Planning Grows Stock Holdings in Alight, Inc. (NYSE:ALIT)

Creative Planning boosted its holdings in Alight, Inc. (NYSE:ALIT) by 60.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,781 shares of the company’s stock after buying an additional 28,114 shares during the period. Creative Planning’s holdings in Alight were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Algert Global LLC purchased a new position in shares of Alight during the 2nd quarter valued at $285,000. Clearline Capital LP grew its position in shares of Alight by 18.1% during the 2nd quarter. Clearline Capital LP now owns 5,116,229 shares of the company’s stock valued at $37,758,000 after purchasing an additional 783,652 shares in the last quarter. EVR Research LP lifted its holdings in shares of Alight by 103.5% during the 2nd quarter. EVR Research LP now owns 2,350,000 shares of the company’s stock worth $17,343,000 after acquiring an additional 1,195,000 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Alight by 293.6% during the 2nd quarter. AQR Capital Management LLC now owns 99,010 shares of the company’s stock worth $731,000 after acquiring an additional 73,855 shares during the last quarter. Finally, Troluce Capital Advisors LLC bought a new stake in shares of Alight during the 2nd quarter worth $4,982,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALIT shares. Citigroup dropped their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a report on Tuesday, August 20th. Bank of America dropped 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. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Alight in a report on Monday, September 30th. Finally, KeyCorp lowered their price target 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 equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and an average price target of $10.75.

Alight Stock Performance

Alight stock opened at $7.30 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $7.16 and a 200-day moving average of $7.72. The firm has a market cap of $4.10 billion, a P/E ratio of -11.77 and a beta of 0.86. Alight, Inc. has a 1-year low of $6.15 and a 1-year high of $10.38.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $787.00 million during the quarter, compared to analyst estimates of $791.22 million. Sell-side analysts expect that Alight, Inc. will post 0.42 EPS for the current year.

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.