Oppenheimer Asset Management Inc. Has $457,000 Holdings in Alight, Inc. (NYSE:ALIT)

Oppenheimer Asset Management Inc. trimmed its stake in shares of Alight, Inc. (NYSE:ALIT) by 35.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,888 shares of the company’s stock after selling 33,360 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Alight were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC lifted 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 buying an additional 2,961 shares in the last quarter. Motco acquired a new position in shares of Alight during the first quarter valued at $95,000. Ingalls & Snyder LLC boosted 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 during the last quarter. CIBC Asset Management Inc bought a new position in Alight in the second quarter valued at about $105,000. Finally, Duality Advisers LP acquired a new stake in Alight in the first quarter worth about $119,000. 96.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alight news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $7.11, for a total value of $340,220.61. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America reduced their target price 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. DA Davidson reaffirmed a “buy” rating and set a $12.00 target price on shares of Alight in a report on Thursday, June 20th. Needham & Company LLC dropped their target price on shares of Alight from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research report on Tuesday, August 20th. Finally, Citigroup dropped their price objective on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Alight has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Alight Trading Down 1.9 %

NYSE:ALIT opened at $7.33 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50-day simple moving average is $7.19 and its 200-day simple moving average is $7.98. 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 $4.12 billion, a PE ratio of -11.82, a price-to-earnings-growth ratio of 1.77 and a beta of 0.86.

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

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.